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BUSINESSTODAY 3 December 2020

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€1.50 THURSDAY 3 DECEMBER 2020 • ISSUE 86 WWW.BUSINESSTODAY.COM.MT PAGE 3 Editorial PAGE 7 THE SHADOWS THAT SHACKLE THE FINANCIAL SERVICES INDUSTRY PAGE 5 PAGE 2 Debenhams Malta stores to remain open following UK chain's collapse Restoring air connectivity crucial to post- coronavirus recovery - Central Bank report PAUL COCKS BANK of Valletta's top executives will be able to receive bank shares in lieu of performance bonuses after a vote at the bank's annual general meeting last week, even though shareholders have not been paid an interim and final div- idend for the past two years. Bank chairman Gordon Cordi- na told BusinessToday that the plan was standard practice in institutions abroad and that it had actually been recommended by the European Cen- tral Bank. "is does not mean that anyone will be getting any additional bonus- es," Cordina said. "But going forward, the Board (of directors) may decide to reward executives that perform well with shares." Bank of Vallea intent on out-of-court selement in €363 million claim by Deiulemar bondholders and liquidators • Plans in place should BOV end up without US correspondent bank in 2021 BOV approves share remuneration plan for directors, top executives BOV's AGM last week was held remotely

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