Malita Investments plc - Interim Directors’ Statement

Friday, November 16th, 2012

On 16 November, Malita Investments plc issued its maiden Interim Directors’ Statement following the listing of its shares on the Malta Stock Exchange on 7 August.

The statement explained that during the first ten and a half months of 2012, the Company acquired the real rights over the sites of the Malta International Airport and the Valletta Cruise Port by virtue of two transfer contracts entered into with the Government. In consideration for this acquisition, the Company issued 68,108,064 new ordinary ‘A’ shares to the Government of Malta.

The Company also acquired a 65-year temporary emphyteusis over the new Parliament Building and the Open Air Theatre for a premium of €82 million and a revisable ground rent of €100,000 per annum. To fund these obligations, the Company issued 30 million ordinary ‘B’ shares to the general public at €0.50 each.

During the period under review, the Company also managed to conclude a €40 million loan from the European Investment Bank (EIB) split into a €25 million loan for 20-years and a €15 million facility for 25 years. This loan was fully drawn down on 1 October 2012.

The Directors noted that the financial results of the Company for the first 9 months of 2012 are in line with the Company’s expectations. Moreover, the Company plans to shortly publish its nine-month results which will be the first financial results publication for Malita as a publicly listed company.

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