€1.50
THURSDAY 8 JUNE 2023 • ISSUE 209
WWW.BUSINESSTODAY.COM.MT
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NDSF risks 42% dilution in
its investment as Lombard
seeks new share issue again
Accountants call
for a rethink of
and reform in
financial services
VBL Group ends
2022 with €6.6m
actual profit
PAUL COCKS
THE board of directors of Lombard Bank is
once again proposing a new share issue that
would see the shareholding of current inves-
tors, including the National Development
and Social Fund – the State golden passport
fund – diluted by 42 per cent.
e NDSF would see its shareholding in
Lombard drop from 49.01% to 28.5%.
BusinessToday had already revealed a
similar attempt by Lombard Bank directors
to push through a new share issue in Octo-
ber last year.
Back then, the NDSF – which owns a 49.01%
stake, valued at €51,098,121 – had insisted
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.
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STAR PERFORMER MSE FTSE 100
EUR EXCHANGE RATES
Trading Date: 6 June 2023
Number of Trades: 83
Turnover: € 631,520.61
MSE TRX Index: 7,674.28
Change: +0.025%
Name: 3.85% HLF UNSEC
MT0001891200 - Currency €
Last Traded: 6 June 2023
Price 97.500
Change +0.520
US Dollar 1.0388
British Pound: 0.86477
Japanese Yen: 144.59
Australian Dollar: 1.5451
Swiss Franc: 0.98700
7,587.67
75.67
7,592.39 / 7,512.00
Value
Net variation
High / Low
+1.01%
e State golden
passport fund
would see its
shareholding in
Lombard drop from
49.01% to 28.5%
