Tigné Mall plc - Interim Directors’ Statement

On 13 November, Tigné Mall plc published its Interim Directors’ Statement explaining its performance up to 30 September 2013.

During the first nine months of 2013, Tigné Mall plc continued to perform in line with expectations as the complex remained fully let out and experienced an increase in visitor footfall over the corresponding period last year. As a result, the Company’s revenue during the period under review increased year-on-year in line with forecasts. Furthermore, finance costs dropped by 14% following the repayment of €6.5 million of its borrowings paid out from the funds raised in the April 2013 IPO. In its IPO prospectus (dated 20 March 2013), the Company forecasted a net profit of €0.87 million for the current financial year ending 31 December 2013.

In conclusion, the Directors also noted that the Company continues to generate healthy levels of cash from operations and the financial position remains positive.