VBL p.l.c. (C56012)
("VBL" or the "Company")
COMPANY ANNOUNCEMENT
Securing of Bank Financing
Date: 08 November 2022
Ref. VBL14/2022
This is a company announcement made by the Company in compliance with the Capital Markets Rules issued by the Malta Financial Services Authority.
The Company hereby announces that on the 4th November 2022, it entered into a set of financing agreements with Bank of Valletta p.l.c., ("the Bank") securing a long-term development and acquisition financing facility of a total of €14,500,000, available to finance the Company's earlier announced developments and acquisitions, as well as securing financing for ongoing obligations as part of the regular course of business.
The Company, which so far has operated without any significant loan financing, considers this new long-term financing facility a strategic step in the further development and growth of its business. The securing of this financing facility is part of the Company's plans announced in the prospectus dated 23rd July 2021 and its strategy to continue expansion on the Valletta market and convert significant part of its existing property portfolio into renovated revenue generating assets.
Lastly, the Company would like to thank its shareholders, for their continuing support and confidence.
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Dr Mikiel Calleja
Company Secretary
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VBL plc published this content on 08 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2022 11:33:33 UTC.