FIMBank plc launches a rights issue

17.10.2007

FIMBank plc, the Malta based trade finance bank announced on 15^th October 2007 an offer to subscribe to New Ordinary Shares. The New Ordinary Shares are offered at the ratio of 5 new shares for every 19 existing shares at an offer price of USD1.10 per share.

 

If subscribed to in full, the Rights Issue will raise a total amount of USD25 Million, increasing the Bank’s Shareholders’ Equity to over USD95 Million. The offer will be made to those shareholders on the Register at the Central Securities Depository of the Malta Stock Exchange as at 26^th October 2007 being the record date.  Accordingly, the last day of trading in shares of the company on a Cum-rights will be the 23rd October 2007.

 

Shareholders on the Register will be entitled to receive the Prospectus and accompanying documentation and shall participate in the offer which, subject to necessary approvals from the competent authorities being obtained, will open on 19^th November and close on 30^th November 2007.

 

All applications have been made to the Malta Financial Services Authority and to the Malta Stock Exchange for the necessary authorizations.

 

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