At its upcoming Annual General Meeting, Bank of Valletta is expected to approve several important changes, including the appointment of two new directors, the continuation of its share buyback programme and changes to its shareholder structure.
The bank is also proposing to remove the current 5% ownership limit, a move it says would improve liquidity and shareholder flexibility, but which may also make it easier for UniCredit to sell its remaining stake in the bank. UniCredit has already reduced its shareholding from 10.21% to 5.21% through a sale worth around €50 million, and later reduced it further to 3.63%. Hili Ventures bought BOV stock in July 2025 by buying a 4.99% stake from UniCredit, amounting to just over 32 million shares, while Amalgamated Growth and Income Fund increased its stake from 4.00% to 5.56%.
Two new directors, Robert Suban and Kelvin Camenzuli, have also been nominated following two vacancies on the board and are expected to be elected at the AGM on 10 June. BOV is also continuing its share buyback programme, under which shareholders originally approved the purchase of up to 2,800,000 shares before the bonus issue, later adjusted to 3,060,000 shares, at prices between €1.55 and €2.55 per share. So far, BOV has bought back 937,770 shares at an average weighted price of €1.9724, for a total cost of €1.85 million.
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