Maib announces the commencement of the share buyback programme

21 Aug, 2024

Maib announces the commencement of the share buyback programme

In accordance with the decision of the AGM on the 19 June and the Bank’s Supervisory board on 2 August, maib announces the start of its share buyback programme (offer to purchase its own shares). This follows the necessary approvals from the regulators. The purpose of the buyback is to secure the shares to fulfill maib’s obligations under the long term incentive plan (LTIP).

Salient features

The share buyback is open to all maib shareholders equally;
The information about the buyback has been disseminated widely to ensure that all shareholders have been notified;
This programme proposes to purchase 3,103,438 nominative ordinary shares (2.99% of total shares);
The price offered per share will be of MDL 74.56 (net asset value per share as per latest audited financial statements, 31/12/2023, in accordance with relevant Moldovan legislation);
The term of action for the purchase offer will be of 21 days (21 August 2024 – 10 September 2024);

For precise details of the procedure please use the contact details given below:

Oxana Cinpoeş
Phone: +37322303396
E-mail: oxana.cinpoes@maib.md

Valeria Kuznetova
Phone: +37322303397
E-mail: valeria.kuznetova@maib.md

Macar Stoianov, maib CFO, commented:

"Today maib announces the commencement of the share buyback programme. Maib seeks to purchase 3% of its shares at a fair price, an offer which is open to all shareholders equally. This accomplishes two very important things. Firstly, this programme secures the shares necessary to fulfull maib’s obligation under its long term incentive plan (LTIP). LTIP is an important instrument to align employee interests with those of the shareholders. Secondly, the buyback offer creates a liquidity event for shareholders to realize the value of their shares. As the largest bank in Moldova, we remain committed to leading and shaping the country’s financial landscape, creating value for our shareholders."

Detailed information:

For more detailed information please consult the official announcement on the maib website or the presentations shown below:

About maib

Maib is the largest bank in Moldova, with a share of 36.1% of deposits and 38.0% of loans of the entire banking system at the end of 2Q 2024. Maib is a disciplined lender with NPL ratio of 1.9% and is well capitalised with CAR of 22.2% as of 30 June 2024. The Bank is of systemic importance to the country, it serves almost a third of the population and is one of the largest private employers in Moldova, with a workforce of over 2,400 people. Since 2018, maib's largest shareholder is a consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltic States, and Horizon Capital, a private investment fund focused on emerging markets.

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