FIMBank plc – Board Meeting for the Approval of the Interim Financial Statements

August 22, 2008

FIMBank plc announced its Interim Financial Statements for the half year ended 30 June 2008. The FIMBank Group posted a profit after tax of USD 23.81 million, a significant increase over the USD 3.46 million registered for the same period in 2007. The disposal of shares in Global Trade Finance Ltd in March 2008 contributed to a consolidated profit on disposal of USD 29.15 million. Group Net Interest Income increased by 42% to USD 7.0 million, whilst Group Net Operating Income grew from USD 12.22 million to USD 47.30 million. Net Fee and Commission Income increased by 64% to USD 10.05 million, being largely the result of improved performance both at Bank and London Forfaiting Company Ltd. The company also announced the payment of an extraordinary dividend of USD 4,397, 685 (i.e. USD 0.03290924 per ordinary share) by means of a scrip issue to Members on the Register at the Central Securities Depository of the Malta Stock Exchange as at the close of trading on 5 September 2008. All such Members will be entitled to receive the Circular to Members and supporting documentation, including but not limited to the scrip election form; and receive the scrip dividend, to be paid either in cash or by the issue of new shares at each Member’s option, as from Tuesday 29 September 2008. The Board of Directors also resolved that the attribution price for calculating the scrip dividend entitlement be established at USD 1.600 that is to say approximating a discount of 15% to the trade-weighted average price of the Company’s Equity Securities for the past quarter. The Interim Financial Statements can be viewed from the below link.

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