Lidion Holdings plc, the holding company of Malta-based Lidion Bank, has increased its share capital with the aim of expanding its product offering.

The announcement, first made on the Malta Stock Exchange last week, confirmed that the decision was taken following an Extraordinary General Meeting held on the same day, 12th March 2024.

Headquartered at SkyParks Business Centre in Luqa, Lidion Bank is a licensed Maltese credit institution servicing corporate clients.

Contacted by WhosWho.mt, a spokesperson for Lidion Bank stated that the increase in Lidion Holdings’ share capital is “synonymous with the growth of Lidion Bank.”

“The bank is involved in a number of projects that include technology enhancements, investment in its workforce, and significant expansion of its product offering,” they continued.

Prior to the increase, Lidion Holdings’ share capital amounted to €8,226,501.8167, divided into 80,000 Ordinary ‘A’ Shares and one Ordinary ‘B’ Share, of nominal value of €1.2657 each, together with 6,972,065 Ordinary ‘A’ Shares of nominal value of €1.1654 each.

The new figure will come in at a total of €14,473,439.7219. While the aforementioned 80,000 Ordinary ‘A’ and Ordinary ‘B’ Shares will retain the previously-held value (€1.2657 each), the second part of the split (priced at €1.1654 each) will grow to 12,332,403 Ordinary ‘A’ Shares.

Dutch firms Armoza Beheer B. V. and Monde Celeste B. V. will have 2,412,152 Ordinary ‘A’ Shares each, while Westmoreland Investments Ltd, a company registered in the Isle of Man, will hold 536,034 Ordinary ‘A’ Shares.

Last year, Lidion Bank came to fruition, rebranding from AgriBank, a Malta-based bank that was first launched in 2012. Lidion Bank had told WhosWho.mt that the change was more of a “soft launch” and about “getting the formalities done,” with a more formal launch to take place this year.

During the first six months of 2023, Lidion Bank – then AgriBank – registered a pre-tax profit of €544,595, an improved performance from the €416,621 pre-tax profit that was recorded in the same period in 2022.