By letter dated 24 July 2008, the Republic of Malta nominated Mr Vincent Grech (Consultant to the Government of Malta, Ministry of Finance, the Economy and Investment) for re-appointment as Full Member of the Board of Directors following the expiry of the term of office of the Board of Directors on 3 June 2008, the day of the Annual Meeting of the Board of Governors.
By letter dated 26 August 2008, the Board of Governors were invited to vote on the proposed appointment.
The decision to nominate Mr Vincent Grech was taken on 9 September 2008, the date on which the requisite majority of Governors' votes was reached.
The term of office of Mr Vincent Grech will expire in 2013, at the end of the day of the Annual Meeting of the Board of Governors during which the annual report, balance sheet and profit and loss account for the 2012 financial year are examined.