The following is a Company Announcement by HSBC Bank Malta p.l.c. (the “Bank”) in compliance with the Capital Markets Rules issued by the Malta Financial Services Authority:
Reference is made to Company Announcements HSBC440 and HSBC441, both issued on 11 September 2024 and Company Announcement HSBC 442, issued on 12 September 2024, regarding a strategic review by HSBC Holdings plc (“HSBC Holdings”) of its indirect 70.03% shareholding in the Bank.
The Bank announces that it has been advised by its majority shareholder, HSBC Continental Europe, that HSBC Holdings has been contacted by a number of parties who have expressed interest in its shareholding in the Bank and have requested to conduct due diligence prior to confirming their interest.
In this respect, HSBC Continental Europe has requested the Bank to seek authorisation from its shareholders to furnish and disclose information, including unpublished price-sensitive information, to bona fide offeror(s), the corresponding bona fide transferor and their respective advisers, as may be necessary to enable such:
(i) prospective bona fide offeror(s) to make, confirm, withdraw or modify any offer(s) for a
Substantial Shareholding (as defined in Capital Markets Rule 5.174); and
(ii) prospective bona fide transferor of a Substantial Shareholding to evaluate, negotiate
and/or confirm any said offer(s),
in each case, with any necessary assistance from their respective advisers.
For such purpose, and in accordance with the Capital Markets Rules, the Bank will be required to convene an Extraordinary General Meeting (the “EGM”). A further Company Announcement providing the date and details of the EGM will follow in due course.
The majority shareholder has reiterated that no decisions have been made regarding its shareholding in the Bank and that HSBC Holdings continues to consider a full range of options.
- December 1, 2024 No comments Posted in: Business Tags: EGM, HSBC, shareholding