MIDI plc - Quote

MIDI plc - Profile

MIDI p.l.c. is in the business of the development, disposal and retention of property on possibly two of the best sites in Malta – Tigné Point and Manoel Island – through a 99-year deed of emphyteusis from the Government of Malta effective June 2000.

Tigné Point

Tigné Point is a residential, commercial and leisure development located in Sliema. The development comprises 313 residential units (covering just over 39% of the total area) complemented by office facilities, a shopping mall, parking facilities and Pjazza Tigné which also includes commercial and leisure outlets. The project places a strong emphasis on the restoration of historic sites including Fort Tigné, St. Luke’s Garrison Chapel, army barracks and the clock tower. All traffic is routed underground, providing a car-free zone at ground floor level and extensive green areas and public spaces. These attributes make it a unique development for Malta in many respects.

Manoel Island

The development at Manoel Island, located in close proximity to Tigné Point, will be centred around the construction of a marina village as well as the restoration of the Lazzaretto and Fort Manoel. Restoration works are underway but construction of the marina village is not expected to commence before 2012. This project will eventually comprise approximately 469 low-rise apartments together with a number of other developments including a casino, yacht marina, restaurants, sporting facilities, ample public spaces and extensive parking facilities amongst others.

Subsidiaries

• Tigné Point Marketing Limited (TPML) – TPML handles all marketing (including advertising and PR campaigns) and sales activities of the Company. It represents the Company’s main point of contact with customers. TPML was set up in order for the Company to have its own specialised selling and marketing team.
• Tigné Contracting Limited (TCL) – serves as the turnkey company through which almost all construction and related costs except for selling and marketing are accounted for. Most contracts with contractors are signed by TCL.
• Tigné Mall Limited (TML) – TML was set up to build and operate a retail mall complex, and ancillary facilities at Tigné Point. Building works were completed and the mall commenced operations in March 2010 under the name “The Point”.

Jointly Controlled Companies

• Solutions & Infrastructure Services Limited (SIS) – is regulated by its Memorandum and Articles of Association and a joint venture agreement between the Company and Siemens S.p.A., with each having a 50% stake in SIS. The purpose of the joint venture, inter alia, is that of supplying, installing and operating technological products, systems, solutions, plants and services related to the Project.

Share Capital

As at 1 November 2010, MIDI plc had an authorised share capital of €90 million divided into 450,000,000 Ordinary Shares having a nominal value of €0.20 each.

Prior to the 2010 Share Issue, MIDI plc had an issued share capital of €29,358,000 divided into 146,790,000 Ordinary Shares having a nominal value of €0.20 each.

Following the Issue of 67,369,922 new Ordinary Shares in the 2010 Share Issue, MIDI plc now has an issued share capital of €42,831,984 divided into 214,159,922 Ordinary Shares having a nominal value of €0.20 each.

MIDI plc - Financials

MIDI plc Interim Accounts

MIDI plc Final Accounts

News for MIDI plc

MIDI plc - Downloads

• MIDI plc - Newsletter - July 2011 (5.2 MiB, 191 hits)
• MIDI plc - Investor Fact Sheet (137.4 KiB, 146 hits)
• MIDI plc - 2010 Annual Report (2.6 MiB, 136 hits)
• MIDI plc - Newsletter - March 2011 (945.7 KiB, 169 hits)
• MIDI plc - Newsletter - December 2010 (829.3 KiB, 254 hits)
• MIDI plc - Newsletter - August 2010 (6.8 MiB, 249 hits)
• MIDI plc - Company Brochure (4.3 MiB, 181 hits)
• MIDI plc - Prospectus - 1 November 2010 (3.5 MiB, 332 hits)