“HSBC Malta Attracts Interest from Multiple bidders…”

HSBC has confirmed that it has received interest from multiple parties regarding the potential acquisition of its 70% stake in HSBC Bank Malta. This was announced through a post by the Malta Stock Exchange on Thursday morning.

While the identities of these potential buyers remain undisclosed, this development signifies a significant step in the ongoing strategic review of HSBC’s Malta operations. It is understood that the interested parties mentioned in Thursday’s announcement refer to other parties, other than the APS Bank.

The bank has announced plans to hold an Extraordinary General Meeting (EGM) in early 2025 to seek shareholder approval for the disclosure of sensitive information related to this process. It’s important to note that no final decisions have been made, and HSBC remains open to considering various options for its Malta operations.

HSBC concluded its statement by saying that “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.”

PG Group announces a net interim dividend of €2.75 million…”

At its meeting, the Board of Directors of PG p.l.c. (the “Company”) resolved to distribute a net interim dividend of €2,750,000.00 equivalent to €0.0254630 net (€0.0391738 gross) per ordinary share. 

This dividend will be paid on Friday 6 December 2024 to the ordinary shareholders who were on the Company’s Register of Members as maintained at the Central Securities Depository at the Malta Stock Exchange as at Friday 29 November 2024. 

The amount is unchanged from the interim dividend distributed in 2023.

PG Group, is a company which runs the PAVI and PAMA shopping malls and supermarkets in Qormi and Mosta respectively

Aside from PAVI and PAMA, it is also the franchisee of ZARA and ZARA Home in Sliema and Mosta.

Malta Company Announcements:

APS Bank

APS Bank plc makes reference to its announcement APSB72 of 12 September 2024, and to that by HSBC Bank Malta plc HSBC445 of today 28 November 2024 announcing its intention to convene an Extraordinary General Meeting for the purpose explained in the said announcement.

In line with its regulatory obligations, and consistent with its standards of good governance, the Bank wishes to declare and confirm its interest in pursuing the acquisition of the 70.03% holding of HSBC Continental Europe in HSBC Bank Malta plc, and that it has accordingly submitted a Non-Binding Offer to the ultimate parent, HSBC Holdings plc.

The Bank further announces that it is being assisted in the process by Alvarez & Marsal as lead financial advisor, and Ganado Advocates as legal counsel. Other advisors are lined up to join once work on a potential transaction, including any due diligence exercise, unfolds in due course. During this period, the Bank’s Board of Directors and Management will be engaging with their various stakeholders to help inform them further about the rationale and merits of such an acquisition. Foremost will be the shareholders, and primarily the Qualifying Shareholders AROM Holdings Ltd (55.0%) and the Diocese of Gozo (12.7%), and their own advisors, whose endorsement is being enlisted.   

As shown consistently in recent years, the Bank has been growing steadily, improving efficiencies, services and revenues thanks to the significant transformational investment in technology, people and systems. This has led the APS Bank Group to a strong market position which also brings with it greater responsibilities. The Bank has long identified the need for scale as a priority and this led to many months of studies and extensive, professional evaluation that now underpin the Non-Binding Offer. In the Bank’s view, its proposal presents the best future for all the stakeholders of HSBC Bank Malta plc, and of course those of APS Bank plc.

The Bank reiterates that it will keep the market informed through further company announcements whenever necessary as well as with customary Market Briefings, where appropriate.

Qawra Palace p.l.c

The Company hereby announces that its Board of Directors is scheduled to meet on 28th November 2024 to consider and, if thought fit, approve the Company’s half-yearly financial report and unaudited financial statements for the six-month financial period ended 30th September 2024.

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