Malta Properties Company plc - Sale of St George’s Exchange

Friday, August 3rd, 2018

On 2 August 2018, Malta Properties Company plc (“MPC”) announced that its wholly-owned subsidiary SGE Property Company Limited entered into a promise of sale agreement with Mercury Exchange Limited for the sale and transfer of the St George’s Exchange (including its surrounding land) for €13.75 million. The promise of sale agreement is valid and effective up to three years.

MPC noted that the proceeds from the disposal of the St George’s Exchange are expected to go towards development projects which the company is currently undertaking and other projects that are in the pipeline.

The St George’s Exchange was valued at €2.2 million as at 18 September 2015.

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