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Bank of Valletta plc

Legal Proceedings Report • Sep 2, 2020

2043_rns_2020-09-02_50ee6374-0413-4903-a0e4-984d4be02e90.pdf

Legal Proceedings Report

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BOV/394

COMPANY ANNOUNCEMENT

The following is a Company Announcement issued by Bank of Valletta p.l.c. pursuant to the Listing Rules, issued by the Listing Authority:

Quote

In its financial statements, the Bank refers to a claim from the Swedish Pension Agency (SPA), being the sole investor in the Falcon Fund SICAV, for damages claimed to have been suffered by SPA in an alleged amount exceeding €71 million. The Bank advises that it has settled the claim for €26.5 million. The settlement arrangements will not result in the Bank incurring a loss in excess of that already provided for, with some release back to P&L expected in due course. The Bank's total provisions for all contingent liabilities will also be reduced significantly once the transaction is completed.