“Bank of Valletta Announces New €100-150 Million Unsecured Bond Issue…”

Bank of Valletta plc (BOV) has formally announced the forthcoming issuance of Series 2 Tranche 1 bonds under its established Unsecured Euro Medium Term Bond Programme.

This new offering aims to raise €100 million, with a potential overallotment option allowing the total to increase to a maximum of €150 million.

The bonds carry a coupon rate of 5.00% and will mature between 2030 and 2035.

This bond issue forms part of BOV’s broader €250 million bond programme, initially announced in October 2024, and is primarily intended to meet the bank’s Minimum Requirement for Own Funds and Eligible Liabilities (MREL) obligations.

The offer period for these bonds is anticipated to commence on Monday, June 9, 2025.

Issue Amounts and Allocation Plan:

The bonds will be distributed across various investor categories as follows:

• Preferred Applicants: Up to €50 million (nominal) will be reserved for subscription by specific existing investors. This includes holders of BOV’s 3.50% subordinated bonds 2030 (Series 1 & 2), 3.75% subordinated bonds 2026/31, and 5.00% subordinated bonds 2029/34 (Series 1), as well as BOV shareholders as of the close of trading on May 23, 2025.

Employees of the Bank and its subsidiaries are also included in this category.

• Professional Clients and Eligible Counterparties: Up to €35 million (nominal) of the bonds will be allocated for subscription by professional clients and eligible counterparties.

• General Public: The remaining €15 million (nominal) will be made available for subscription by the general public.

Any portion of bonds not fully subscribed to by a particular category may be made available for subscription to another category.

Subscription Details:

• Minimum Subscription Amounts:
• • For retail investors, the minimum subscription amount is €10,000, and in multiples of €100 thereafter.
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  • For professional clients and eligible counterparties, the minimum subscription amount is €100,000, and in multiples of €100 thereafter.

• Application Procedure: Retail clients’ applications will be subject to a suitability test conducted by their authorised financial intermediary.

Bond Status and Listing:

These bonds are classified as Tier 2 Bonds and constitute direct, unsecured, and subordinated obligations of BOV.

BOV has stated that further detailed information will be released in due course, following the approval of the Final Terms by the Malta Stock Exchange.

Grand Harbour Marina to Pay Out €795,500 in Dividends

The company’s Board of Directors has resolved to distribute a gross dividend of €795,500, which translates to €0.039775 (gross) per ordinary share. This dividend will be paid out on June 20, 2025, to all ordinary shareholders registered by the end of business on June 13, 2025.

This positive announcement follows a period of strong financial performance for Grand Harbour Marina, which manages its namesake marina in Malta and holds a significant interest in Turkey’s IC Cesme Marina. The company saw its total revenue jump from €4.34 million to €8.23 million, while its share of IC Cesme’s revenues also grew. Grand Harbour Marina also reported substantial increases across its operating profit, profit before tax, and profit after tax compared to the previous year.

New €6 Million Logistics Hub for Virtu Ferries in Pozzallo

Virtu Ferries has made a substantial €6 million investment in regional logistics infrastructure with the acquisition of a 24,000-square-metre site from the Regione Siciliana, strategically located overlooking the Port of Pozzallo. This site will be transformed into the Virtu Ferries Logistics Hub, a crucial development aimed at optimizing trade flows between Malta and Sicily.

Designed to be a premier base for import and export activities, the hub will provide logistics companies and distributors with a modern business centre, office facilities, extensive parking for both commercial and light vehicles, warehousing, storage solutions, and accommodation for drivers. This new hub is set to considerably improve the efficiency of Virtu Ferries’ existing fast-track cargo service, facilitating smoother cross-border trade. A company spokesperson highlighted this as a “significant milestone” in solidifying Virtu Ferries’ leadership on the Sicily-Malta route and acknowledged the vital support from the Regione Siciliana.

Malta Company Announcements:

Simonds Farsons Cisk plc

Simonds Farsons Cisk plc’s Board of Directors is set to meet on Wednesday, May 28, 2025, to approve the financial statements for the year ended January 31, 2025, and consider declaring a final dividend.

Malta Properties Company plc

The Board of Directors proposed a final net dividend of €0.014 per share. Shareholders on record by Thursday, April 24, 2025, will receive this dividend on Friday, May 30, 2025.

The Convenience Shop (Holding) plc

Subject to shareholder approval at the July 1, 2025 Annual General Meeting, the Directors have declared a net final dividend of €0.024 for those holding shares by the end of trading on Wednesday, May 28, 2025. Including the €0.010 net interim dividend already distributed in September 2024 the overall net dividend for the 2024 financial year totals €0.034 per share.

M&Z plc plc

Subject to shareholder approval at the Annual General Meeting on June 4, 2025, the Directors of M&Z recommend a final net dividend of €0.0162 per share. Shareholders holding shares by the end of trading on May 28, 2025, will be eligible to receive this payment by June 27, 2025.

Trident Estates  plc

Trident Estates plc announced on April 29, 2025, that its Board of Directors will meet on Thursday, May 29, 2025, to consider approving the financial results for the year ended January 31, 2025, and to discuss declaring a dividend.

MedservRegis plc

The Directors of MedservRegis are proposing a final net dividend of €0.0142 per share. If approved by shareholders at the Annual General Meeting on May 29, 2025, this dividend will be distributed to all shareholders on record as of the close of trading on May 9, 2025, with payment expected by June 30, 2025.

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