“New MGS Issues – Government of Malta:

New MGS Issues

On 30^th June, the Accountant General announced that it is offering an aggregate amount of €270,000,000 of Government Stocks subject to an over-allotment of up to a further €130,000,000, which are being offered and made available in any one or any combination of the following three Stocks:

• 3.55% MGS 2026 (V) – being offered to both Retail and Institutional Investors
• 3.75% MGS 2033 (III) – being offered to Institutional Investors only
• 4% MGS 2038 (I) – being offered to Retail Investors only

The prices established by the central bank are as follows:

• 3.55% MGS 2026 (V) at Euro 100.00 with a yield to maturity of 3.5497% and

• 4.00% MGS 2038 (I) at Euro 100.00 with a yield of maturity of 3.9997%

Applications for retail investors open on Monday, 10^th July 2023 and close on Wednesday, 12^th July 2023 at 14.30. The General Public has the possibility of applying for these stocks in multiples of €100 and up to a maximum of €499,900 (nominal) per application.

Interest on each Stock is payable half yearly in arrears. The Accountant General reserves the right to issue, in future, additional amounts of each of the mentioned Stocks in further tranches. In the event of such further issues of these Stocks, they will carry the same rights as the existing Stocks and will be subject to the terms and conditions applicable to these Stocks. Further issues of these Stocks will be integrated with the respective existing Stock and will be deemed to be one Stock.

 

Lombard Bank to issue new shares

Lombard Bank Malta plc will be issuing new shares in the near future, the bank’s Annual General Meeting was told. 

The meeting considered and approved all resolutions on the Agenda, including also the Annual Report and Financial Statements, Reappointment and Remuneration of Auditors and Remuneration of Directors; a Bonus Share Issue and also authority for the directors to issue new shares.

The raising of fresh capital was intended for the Bank to proceed with extending its activities in line with its vision of becoming a more meaningful player in the local community.

The Bank returned a record Profit before Tax of €28.8 million, the main drivers being improved interest income streams and the recovery of a non-performing commercial loan.

The shareholders present at the Meeting approved all the resolutions with no abstentions nor votes against. The Bank expressed satisfaction at this outcome and in particular on that which authorises the directors to issue new shares, thereby allowing it to proceed with its plans for growth, in line with its strategic priorities.

 

Malta Company Announcements:

VBL p.l.c

The Board of directors are recommending the payment of a net dividend of €0.000726 per share to all shareholders as at close of trading on 2^nd June 2023, subject to approval at the upcoming Annual General Meeting scheduled for 6^th July 2023.

Lombard Bank Malta p.l.c

The board of directors did not recommend the payment of a dividend, however they received regulatory approval for a bonus share issue of one share for every forty-five shares held. These will be allotted to all shareholders as at close of trading on 17^th July.

Mapfre Middlesea p.l.c

The Board of Directors is scheduled to meet on Wednesday, 26^th July 2023 to consider and approve the interim financial results covering the six month period ending 30^th June 2023.

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