GO plc - Quote

GO plc - Profile

GO plc (formerly Maltacom plc) was constituted on 31 December 1997 with the purpose of replacing TeleMalta Corporation, a public corporation which was established by the Government in 1975 to provide and operate telecommunications services in Malta. The business of TeleMalta was transferred to GO on 2 January 1998 when the Government of Malta held 100% of the shares.

GO plc went public on 11 June 1998 when 40% of its shares were sold on the Malta Stock Exchange in the form of ordinary shares and on the London Stock Exchange in the form of Global Depositary Receipts (1 GDR = 6 shares).  The IPO took the form of an offering of 40.5 million ordinary shares with a nominal value of €0.5823 each. The shares sold to the public were offered at €2.0964 per share. The Company’s shares began trading on both the Maltese and the London Stock Exchange on 23 June 1998.

GO is Malta’s leading provider of telecommunications and ancillary services and is the only quadruple play operator. The core services provided by the Group include fixed line telephony, mobile telephony, data services and Digital Terrestrial TV (through its acquisition of Multiplus Ltd in January 2007). GO’s subsidiary and associated companies are also engaged in the provision of Voice over Internet Protocol services (VoIP), radio paging, call centre operations, security, training and educational services.

On 15 May 2006, the Privatisation Unit authorised the sale of its 60% shareholding in GO plc to Emirates International Telecommunications (Malta) Limited (EITL), a Company which forms part of Tecom Investments. The agreed price was €220 million or €3.6198 per share. The share purchase agreement was signed on 17 May 2006.

The Directors of GO plc are: Mr Sonny Portelli (Chairman), Mr John Ellul Vincenti, Mr James Kinsella, Mr Deepak Padmanabhan, Mr Osman Sultan, The Noble P.S. Testaferrata Moroni Viani, Mr Michael Warrington, Mr Montasser Ouaili, Dr. Francis Galea Salomone (Company Secretary).

Subsidiaries

• Mobisle Communications Ltd. (100%): operating under the trade name go mobile – is one of the cornerstones of the Maltacom Group. Go mobile was set up on 2 June 1999 as the second mobile operator in a fiercely competitive market, previously dominated by Vodafone Malta Limited for over a decade.

• Forgendo Ltd. (50%): a company registered in Cyprus and equally owned by GO and EITL. On 29 January 2008 Forgendo acquired 21% (8,158,912 shares) of Forthnet (a Greek telecommunications company) for a total consideration of €93,827,488 or €11.50 per share. On 11 June and 23 June 2008, Forgendo acquired further shares of Forthnet to increase its shareholding to 9,212,870 shares (23.71% of Forthnet’s total issued share capital of 38.86 million shares). On 14 April 2008, Forthnet announced the acquisition of NOVA, a Greek pay television service platform, for a total consideration of €490million. On 11 July 2008, Forgendo acquired a further 676,277 shares of Forthnet for a total consideration of €2,870,175 or €4.24 per share resulting in a 25.45% shareholding in Forthnet. On 12 August, GO announced that following the Forthnet rights issue, Forgendo held a total of 52,674,013 shares representing 33.89% of the total issued share capital of the Greek broadband operator. Subsequently, Forgendo acquired a further 125,000 shares on 18 September at €2.16 per share and 110,987 shares on October 6 at €1.56 per share. These latest acquisitions resulted in Forgendo holding 52,910,000 Forthnet shares representing a stakehold of 34.04%.

Associate Company

• Datatrak Holdings plc (30%): operates a national radio-based vehicle location, tracking and two-way data system. Datatrak has a listing on the Second Tier Market of the Malta Stock Exchange.

Share Capital

GO’s issued share capital is made up of 101,310,488 ordinary shares of a nominal value of €0.5823 each.

GO plc - Financials

GO plc Interim Accounts

GO plc Final Accounts

News for GO plc

GO plc - Downloads

• GO plc - 2009 Annual Report (1.8 MiB, 98 hits)
• GO plc - 2009 Full-Year Results Report (1.1 MiB, 39 hits)
• Forthnet AG - Corporate Presentation May 2008 (1.2 MiB, 75 hits)