Malta Properties Company plc
Malta Properties Company plc - Quote
|Closing Price (€)||0.510||Change (€)||-0.010|
|TWAP (€)||0.516||No. of Trades||6|
|Day's High (€)||0.523||Change (%)||-1.923%|
|Day's Low (€)||0.510||Turnover (shares)||23,951|
|E.P.S (€)||0.025||Shares in issue (000)||101,310|
|P/E Ratio||20.4||Market Cap. (€000)||51,668|
|Gross Div. Yield (%)||0||Gross Dividend (€)||0.000|
|NAV per Share (€)||0.356||Indicative Div. Date||NIL|
|Price to NAV (times)||1.430||Dividend Cover (times)||0.000|
|2017 High (€)||0.595||2017 Low (€)||0.510|
Malta Properties Company plc - Profile
Malta Properties Company (MPC) is an owner, developer and administrator of premium commercial properties in Malta.
Established in 2011, MPC was initially a fully owned subsidiary of GO plc, Malta’s leading telecommunications business, and tasked with managing the latter’s commercial premises. MPC was spun off from GO in 2015, embarking on an independent journey to develop a commercial property portfolio of outstanding quality while retaining GO as an anchor tenant at various sites.
MPC’s strategic vision is to become a leading player in the provision of premium commercial space in the Maltese Islands.
It intends to achieve its vision by executing the following strategy:
- Maximise revenue from existing real estate portfolio;
- Increase revenue by redeveloping un-encumbered real estate;
- Dispose of non-strategic property within residential zones and part finance development of strategic property;
- Explore opportunities for growth beyond redevelopment projects.
MPC will be undertaking three major development projects:
Malta Properties Company plc intends to retain and renovate the structures within the eastern portion of the property which already houses some of GO plc’s current operations whilst develop the remaining property (mostly unused) into offices and a data centre for the GO Group.
In July 2015, the Company was granted a permit to demolish existing buildings that will not be retained in the proposed project and such works are expected to start before the end of 2015. In the meantime, a development permit for the construction of the proposed project across the remaining area is expected to be granted next year. Construction works are expected to be completed in 2018 at a total cost of €8.5 million which will be financed through bank funding.
Marsa Spencer Hill Exchange
This project will comprise the construction of a new telephone exchange (to house GO plc’s exchange infrastructure currently installed in the existing building) as well as a new office building having a net floor rentable area of 7,500 square metres. The office block will comprise four underground levels of parking, a business centre (spread over three floors and a penthouse), a retail outlet and a food and beverage outlet.
Permits for the new exchange are expected to be granted by the end of 2015 and works should be completed by the end of 2016. Meanwhile, development permits for the office block are expected to be issued in the second half of 2016 with construction works expected to commence in 2018 and completed in 2021. The Company has yet to confirm how the €16.5 million project will be funded.
Malta Properties Company plc intends to redevelop this property into a mixed-use commercial building comprising both retail and office space complemented with underground parking facilities.
Various options are being considered for this site as the Company awaits the publication of the final approved planning policy for the area which will determine the final designs of the project. As such, the Company plans to submit a development application to the Malta Environment and Planning Authority (MEPA) in 2016 subsequent to which the Company will determine the required amount of financing and the appropriate funding structure (debt and/or equity) for the project.
Malta Properties Company plc has an issued share capital of 101,310,488 shares which were distributed to GO shareholders, as at the close of trading on Wednesday 21 October 2015, on a 1 for 1 basis. The shares were subsequently admitted to the Official List on Monday 23 November with trading commencing on Tuesday 24 November.
Malta Properties Company plc - Financials
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News for Malta Properties Company plc
Sale of Sliema Old Exchange
Update on St. George’s Exchange
Interim Directors’ Statement
St George’s Exchange
Malta Properties Company plc - Downloads
- Malta Properties Company plc - Investor Fact Sheet - December 2016 (166.2 KiB, 157 hits)
- Malta Properties Company plc - 2015 Annual Report (600.3 KiB, 421 hits)
- Malta Properties Company plc - Investor Fact Sheet - December 2015 (281.1 KiB, 764 hits)
- Malta Properties Company plc - Prospectus dated 16.10.2015 (2.0 MiB, 1,574 hits)
|Shares in Issue:||101,310,488|