Bank of Valletta P.L.C. (A Public Limited Liability Company Registered Under the Laws of Malta with Registration Number C2833)

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Bank of Valletta P.L.C. (A Public Limited Liability Company Registered Under the Laws of Malta with Registration Number C2833) Prospectus Dated 20 May 2009 Bank of Valletta p.l.c. (a public limited liability company registered under the laws of Malta with registration number C2833) Issue of €35,000,000 5.35% Subordinated Bonds 2019 (subject to an Over-Allotment Option not exceeding €15,000,000) of a nominal value of €100 per Bond issued at par Issue Period: from 08 June 2009 to 12 June 2009 (both days included) (subject to the right of the Issuer to close the Issue early in the event of over-subscription) ISIN:- MT0000021262 Sponsor Manager & Registrar Bank of Valletta p.l.c. | Prospectus 1 23494 - Prospectus 2009.indd 1 5/18/09 2:39:14 PM TABLE OF CONTENTS Prospectus ............................................................................................................................................................1 Table of Contents ..................................................................................................................................................2 Summary Note ......................................................................................................................................................5 1 Important Information .......................................................................................................................................6 2 Warnings ..........................................................................................................................................................7 3 Definitions ........................................................................................................................................................8 4 Directors, Executive Committee, Advisors and Auditors ...................................................................................8 4.1 Directors ...................................................................................................................................................8 4.2 Company Secretary ..................................................................................................................................8 4.3 Executive Committee ................................................................................................................................8 4.4 Advisors to the Issuer ...............................................................................................................................8 4.5 Statutory Auditors .....................................................................................................................................9 5 Issue Statistics and Expected Timetable ..........................................................................................................9 5.1 Issue Statistics..........................................................................................................................................9 5.2 Expected Time-Table of Bond Issue .......................................................................................................10 6 Reasons for the Issue and Use of Proceeds ...................................................................................................10 7 Risk Factors ...................................................................................................................................................10 7.1 General ...................................................................................................................................................10 7.2 Forward-Looking Statements .................................................................................................................10 7.3 Risks Relating to the Issuer .....................................................................................................................10 7.4 Risks Relating to the Bonds ....................................................................................................................12 8 History and Development of the Issuer ...........................................................................................................12 8.1 Increase in Nominal Value of Share Capital and Bonus Issue ..................................................................13 8.2 Share Buyback .......................................................................................................................................13 8.3 Business Overview .................................................................................................................................13 9 Trend Information and Financial Performance ................................................................................................14 9.1 Trend Information ....................................................................................................................................14 9.2 Financial Information for the Financial Years ended 30 September 2008, 30 September 2007 and 30 September 2006 ........................................................................................15 9.3 Performance Review for the Financial Year ended 30 September 2008 ..................................................16 9.4 Financial Information for the Six Months ended 31 March 2009 ..............................................................17 10 Directors and Committees .............................................................................................................................18 11 Major Shareholders ........................................................................................................................................20 12 Financial Information ......................................................................................................................................21 12.1 Historical Financial Information ...............................................................................................................21 12.2 Significant Change in the Issuer’s Financial or Trading Position ..............................................................21 13 Details of the Offer .........................................................................................................................................21 13.1 Admission to Trading ..............................................................................................................................21 13.2 Distribution .............................................................................................................................................21 14 Placing Arrangements and Public Offer .........................................................................................................21 14.1 Pre-Placement Period ............................................................................................................................21 14.2 Public Offer ........................................................................................................................................... 22 15 Markets ..........................................................................................................................................................23 16 Estimated expenses of the Bond Issue ..........................................................................................................23 17 Documents on Display ...................................................................................................................................23 2 23494 - Prospectus 2009.indd 2 5/18/09 2:39:14 PM Registration Document .......................................................................................................................................24 Table of Contents ..................................................................................................................................................25 1 Definitions ......................................................................................................................................................26 2 Risk Factors ...................................................................................................................................................27 2.1 General ...................................................................................................................................................27 2.2 Forward-Looking Statements .................................................................................................................27 2.3 Risks Relating to the Issuer .....................................................................................................................27 3 Important Information .....................................................................................................................................28 4 Persons Responsible .....................................................................................................................................30 5 Advisors to the Issuer .....................................................................................................................................30 6 Statutory Auditors ..........................................................................................................................................30 7 History and Development of the Issuer ...........................................................................................................30 7.1 Increase in Nominal Value of Share Capital and Bonus Issue ..................................................................31 7.2 Share Buyback .......................................................................................................................................31
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