MIDI plc - Interim Directors’ Statement

Monday, May 18th, 2015

On 15 May, MIDI plc published its Interim Directors’ Statement updating the market on developments since the start of the current financial year.

The announcement explained that works on the North phases of the Tigne Point project are currently in line with schedules. Whilst the Q1 apartments are being completed, the Company noted that the development of another residential block, known as Q2, is progressing at a steady pace with the apartments scheduled for launch by the third quarter of 2015. In the meantime, the Company’s joint venture is developing the business centre.

In respect of the Manoel Island development, the Company confirmed again that it is in discussions with third parties that have expressed an interest to invest in the said project.

In conclusion, the Board of Directors noted that it is satisfied with the Company’s current direction as it is starting to deliver positive results while in the process of consolidating the Company’s financial and operational capabilities. The Directors look to the future with cautious optimism.

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