MedservRegis plc - Extension of Land Lease

On 5 December, Medserv plc announced that, through its subsidiary Medserv Operations Limited, it signed a 15-year lease agreement with the Malta Freeport in relation to its local logistics base.  The agreement will come into effect upon the termination of the current concession which expires in 2045. However, this lease extension expiring in 2060 is conditional upon additional investments by Medserv Operations Limited of €9 million by 2021 and other employment obligations.

In the announcement, it was explained that the extension of the lease allows the Medserv Group to expand its operations and meet the requirements of long-term projects in the Mediterranean.

Besides the Malta base, Medserv operates from similar bases in Libya and Cyprus.