Joint Voluntary Bid Update
04.02.2014
A total of 115 shareholders holding 30.36% of the total issued share capital of FIMBank have accepted the Joint Voluntary Bid that was launched on the 9th December 2013 by the Burgan Bank S.A.K. and United Gulf Bank. As a result of such acceptances, the aggregate shareholding of the Offerors has reached 80.14% of the total issued share capital of FIMBank.
The Offerors have informed FIMBank that the shareholding of Burgan shall remain 35,000,000 shares representing 19.53% of all issued shares while UGB’s shareholding will increase to 108,614,962 shares representing 60.61% of all issued shares in FIMBank. Burgan and UGB have also informed FIMBank that they shall seek to maintain the Listing Status and will propose that FIMBank will request the necessary derogation required from the Listing Authority to maintain FIMBank’s Listing Status. as a result of the fact that the proportion of shares in the hands of the public has fallen below twenty-five percent (25%) of the total issued share capital.
The Board of Directors of FIMBank met on the 29 January 2014, and unanimously resolved to request the Listing Authority’s approval to remain listed on the Malta Stock Exchange. For further information please refer to company announcements FIM195 and FIM 196 which can be found here.
