€1.50
THURSDAY 20 OCTOBER 2022 • ISSUE 177
WWW.BUSINESSTODAY.COM.MT
INTERVIEW PAGE 11
PAGE 5
PAGE 3
NDSF insists Lombard Bank
should seek 75% approval
for planned new share issue
Corinthia 6-star
project in St
George's Bay
may be back
on the cards
db Group CEO
Robert Debono on
current priorities
and future plans
PAUL COCKS
A state agency that disburses Malta's
golden passport cash funds will be reg-
istering a formal complaint in the com-
ing days with Lombard Bank – in which
it holds a 49% stake – about the bank's
plans for a new share issue, Business To-
day has learned.
e National Development and Social
Fund (NDSF) will be insisting that any
action by Lombard Bank, headed by CEO
Joseph Said, that results in a dilution of
its shares should have the approval of at
least 75% of the bank's shareholders.
It is understood that the NDSF will also
be filing a complaint with the relevant
authorities.
e fund administers the receipts of
Malta's citizenship-by-investment pro-
gramme, which it disburses as grants or
invests in blue-chip stocks.
STAR PERFORMER MSE FTSE 100
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Trading Date: 19 Oct 2022
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Turnover: € 1,224,302.03
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Name: 3.8% HLF 2029
MT0001891218 - Currency €
Last Traded: 19 Oct 2022
Price 98.000
Change +3.000
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Value
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Lombard Bank CEO Joseph Said (inset) refused to issue any comment on the NDSF's position
