Grand Harbour Marina plc

Grand Harbour Marina plc - Quote

Closing Price (€) 0.740 Change (€) 0.000
TWAP (€) 0.000 No. of Trades 0
Day's High (€) 0.000 Change (%) 0%
Day's Low (€) 0.000 Turnover (shares) 0
E.P.S (€) 0.021 Shares in issue (000) 20,000
P/E Ratio 35.24 Market Cap. (€000) 14,800
Net Div. Yield (%) 0 Net Dividend (€) 0.000
NAV per Share (€) 0.165 Indicative Div. Date NIL
Price to NAV (times) 4.480 Dividend Cover (times) 0.000
2019 Closing High (€) 0.740 2019 Closing Low (€) 0.600

Grand Harbour Marina plc - Profile

Grand Harbour Marina plc was incorporated on 31 August 2000 and became a public limited company on 12 January 2007. The Company entered into a deed of sub-emphyteusis on 4 September 2001 with Cottonera Waterfront Group plc, pursuant to which it acquired the rights to develop and subsequently operate the Grand Harbour marina, develop the surrounding land and buildings and operate the ancillary facilities located in Vittoriosa, Malta. Following issuance of development permits in January 2003, the Company was involved in the development of the marina and related facilities geared for the berthing of yachts with a focus on super-yachts. The Company completed the first pontoons in 2003 and in 2004 while still developing other parts of the project, launched the super-yacht berths at Vittoriosa Wharf, Machinery Wharf and Xatt ir-Risq and then launched the marina in autumn 2005 after completion of the super-yacht berths at St. Angelo Wharf.

The principal activities of the Company are the development, operation and management of marinas with a focus on super-yachts. Currently the Company operates only one marina in the Grand Harbour. Its main area of business is seeking prospective customers to berth their vessels within the Grand Harbour marina and provide a high-quality service as required by the yacht owners, captains and their crews.

Grand Harbour Marina plc is operated and managed by Camper & Nicholsons Marinas Limited, an international company listed on the UK AIM Market specialising in the management of marinas and the development of waterfront resorts worldwide.

The marina has a capacity of 224 pontoon berths for vessels ranging from 8 to 25 metres in length, and a total of 33 berths for super-yachts ranging from 30 to 100 metres (13 berths of which have been sold on 25-year leases with a combined value exceeding €34 million).

During 2007 the Company finalised the development of the Capitanerie providing a location for administration offices, meeting areas for yacht owners and crew members as well as other facilities for servicing customer requirements.

Grand Harbour Marina is continuously reviewing the configuration of the marina in order to make optimal use of the area and maximise the value of the Company’s assets. In fact, given the strong waiting list for pontoons, the Company temporarily converted the smaller super yacht berths at Xatt ir-Risq into pontoons to accommodate an additional 24 pontoons.

On March 2011, Grand Harbour Marina announced that it has entered an agreement with its majority shareholder, Camper and Nicholsons Marina Investments Limited (CNMI), to acquire 45% shareholding of Cesme Marine in Turkey for a total consideration of €4.4 million. The Turkish marina comprises of 385 berths for yachts up to 60 metres in length and a shopping village containing 6,000 sqm of retail area.

Share Capital

The equity of Grand Harbour Marina was admitted to the Official List of the Malta Stock Exchange on 1 March 2007, following an Initial Public Offering of 3,000,000 ordinary shares (30% of the total issued share capital) at a price of €1.6306 per share.

On 22 June 2007, CNMI acquired 70% of Grand Harbour Marina at a price of €1.3044 per share from the Company’s majority shareholders. In terms of Listing Rule 18.8, CNMI made a Mandatory Bid to acquire the remaining 3,000,000 GHM shares held by the General Public at a fixed price of €1.7354 per share. On 9 August 2007, it was announced that pursuant to the Mandatory Bid, CNMI acquired a further 917,209 shares (9.17% of the issued share capital), thereby increasing their equity stake to 79.17%.

On 30 June 2015, Grand Harbour Marina plc shareholders approved an increase in the shares nominal value from €0.232937 to €0.24 per share. The €70,630 increase in the issued share capital was funded from the capitalization of retained earnings. Concurrently with the increase in the nominal value, also on 30 June 2015, shareholders  approved a 2 for 1 share split and as a consequence the total issued share capital increased from 10,000,000 to 20,000,000 shares of a nominal value of €0.12 each. These changes were effective on 10 July 2015.

News for Grand Harbour Marina plc

Grand Harbour Marina plc
CNMI acquires 70% of Grand Harbour Marina
Jun 22, 2007 | Read More
Grand Harbour Marina plc
CNMI announcement regarding mandatory bid
Jun 06, 2007 | Read More
Grand Harbour Marina plc
Full-Year Results
May 14, 2007 | Read More
Grand Harbour Marina plc
Board Meeting
Apr 25, 2007 | Read More
Grand Harbour Marina plc
Conditional agreement by Camper & Nicholsons Marina Investments Ltd to acquire a shareholding in GHM
Apr 25, 2007 | Read More
Grand Harbour Marina plc
Initial Public Offering
Feb 07, 2007 | Read More
Sector: Marina
ISIN: MT0000320102
Shares in Issue: 20,000,000
Nominal Value: €0.12
Trading Symbol: GHM
Listing: Official List
Main Subsidiaires: IC Çeşme Marina Yatirim, Turizm ve Işletmeleri Anonim Şirketi (45%)
Top Shareholders:
  • Camper & Nicholsons Marina Investments (79.17%)
  • HSBC Bank Malta plc (8.84%)
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