Lombard Bank’s excess shares offer was oversubscribed, the bank said in a statement on the Stock Exchange on Friday.

The bank made reference to the company announcement it issued on 30 October 2023 in relation to the rights issue and excess shares offer in terms of the prospectus issued by the bank dated 20 September 2023.

The bank announced that the excess shares offer was over-subscribed and that accordingly, it was exercising its right to close the offer period earlier than 27 November 2023 at 10am as set out in the prospectus.

The offer period was closed on Friday. The remaining events in the timetable within the prospectus will be brought forward accordingly, though shall be kept in the same chronological order, the bank said.

A company announcement with details of the allocation policy will follow in due course. The bank thanked all those who participated in this process for their trust and support.