Plaza Centres plc - Quote

Plaza Centres plc - Profile

Plaza Centres plc is a public limited company which was registered on 30 June 1966. The Company’s business traces its origins to the construction of the Plaza cinema in the 1950’s. In 1986, the management of the Plaza discontinued the cinema operations and decided to develop a modern commercial centre. The construction work for the project began in 1989 and ended in 1993.

Plaza Centres plc owns and operates the Plaza Commercial Centre in Sliema. The Centre comprises a mix of retail, catering and office facilities spread over nine floors with a total area of circa 10,000 square metres. In April 2007, work commenced on the extension of the Plaza Shopping Centre (on the Tower Road side) and completed in March 2008. On completion seven of the eight floors were leased out with revenue streams starting in April 2008. The Company also acquired further property in Bisazza Lane for which it submitted a development application to the Malta Environment and Planning Authority (MEPA).

The Company’s core revenue emanates from leases of office space and retail outlets. The lease agreements normally provide for a twenty-year tenure in the case of outlets and twelve years in the case of offices. Leaseholders pay a premium on initial letting. Lease agreements provide for regular increments in annual rents due, which are typically applied on a four yearly basis.

The Directors of Plaza Centres plc are: Mr Albert Mizzi (Chairman), Ms Anne Marie Tabone, Mr Brian R Mizzi, Mr Peter Borg, Mr Adrian Strickland, Mr Gerald J Zammit, Mr Charles J Farrugia and Lionel A. Lapira (Company Secretary).

Share Capital

The authorised share capital of the Company is €11,646,867, with an issued share capital of €4,385,744 fully paid up, divided into 9,414,000 ordinary shares of a nominal value of €0.4659 each.

In May 2000, the Company made an Initial Public Offering consisting of a public offering of 3,250,000 shares, made up of a new issue of 2,050,000 shares and an offer of 1,200,000 shares by existing shareholders at a price of €2.05 per share. The IPO was oversubscribed with a total of 542 applications. Plaza’s ordinary shares were then admitted to the Official List of the Malta Stock Exchange on 6 June 2000.

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Plaza Centres plc - Downloads

• Plaza Centres plc - 2009 Annual Report (1.8 MiB, 111 hits)