Increasing the Bank’s Common Equity Tier One
Through Cash Contributions to Capital
(According to BDL circular no. 532)
BLOM Bank S.A.L. (Bank) is pleased to inform its Shareholders that the Extraordinary General Assembly held on January 14th, 2020 at the Bank’s Headquarters approved the terms and conditions of the first increase of the Bank’s Tier One Capital by 10% of its Common Equity Tier One, in an amount equivalent to US$ 261.94 million (two hundred sixty-one million nine hundred forty thousands) through cash contributions to capital (CCC) in U.S. dollar in accordance with the provisions of BDL (Central Bank of Lebanon) intermediate circular No. 532 (intermediate Decision No. 13129) dated 4/11/2019. The CCC will constitute Additional Tier One Capital to the Bank.
Each holder of Shares or GDRs (acting through the Depositary) will have the right to participate in the CCC. The CCC are perpetual, subject to full or partial conversion into shares during each of the next five years. The Bank may pay interest annually on the CCC. The terms and conditions of the CCC will be detailed in a Term Sheet to be made available to the shareholders in due course.