FIMBank plc – Transaction with Burgan Bank and UGB

FIMBank p.l.c. announce that it has been informed that a share purchase agreement has been entered into between Massaleh Investments K.S.C.C. ("Massaleh") and Kuwaiti Interests for Development Holding Co. ("KIDH") on the one hand and Burgan Bank and UGB on the other hand (collectively the ‘parties’). In terms of the share purchase agreement and subject to the terms and conditions set out therein, upon completion Burgan Bank will acquire 35,000,000 ordinary shares in the Bank and UGB will acquire 17,948,867 Ordinary Shares in the Bank. These shares amounting in aggregate to 52,948,867 ordinary shares are currently held by Massaleh.

The Malta Financial Services Authority has confirmed by letter to the parties dated 29 May 2013 that it has no objection in terms of the Banking Act to this change in shareholding in the Bank.

To view the official company announcement, click here.