Bank of Valletta bonus shares will be allocated to the shareholders on the register at the close of business today.

These shares will also be admitted to listing on the Malta Stock Exchange at that time, and will be available for trading by the shareholders at the opening of business tomorrow, the bank said.

Notification of the allocation of the bonus shares to shareholders will be despatched on Friday.

Commenting about the significance of this development, Roderick Chalmers, chairman of Bank of Valletta, said the bonus issue will serve to both increase the permanent capital base of the bank and, hopefully, increase the affordability and liquidity of the bank's shares, to the benefit of all shareholders.

The one-for-one bonus share issue was approved by the bank's board during a meeting held on October 28.

Subsequently, the annual general meeting held on December 16 resolved that the amount of Lm13,854,110.25 from the Bank of Valletta retained earnings account be capitalised for the purpose of issuing 55,416,441 fully paid ordinary shares of a nominal value of Lm0.25 per share in respect of the one-for-one bonus share issue.

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