Trident Estates plc – Promise of Sale Agreement for Trident House

Jonathan Falzon

October 27, 2025

27 October, 2025
2 min read
27 October, 2025
2 min read

Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.

On 27 October 2025, Trident Estates plc announced that it entered into a promise of sale agreement with BBT plc and OS Developments Limited to sell Trident House and its surrounding land comprising a total area of 13,593 sqm for a consideration of €29.25 million.

An amount of €4 million of the consideration was paid on account on the execution of the promise of sale agreement. An additional €1 million will be paid on account by 31 March 2026, while the balance of €24.25 million is payable in full and final settlement on the final deed of sale.

The promise of sale agreement shall remain valid until 30 May 2028, with the purchaser having the option to demand the final deed of sale earlier.

Trident Estates explained that the property is currently occupied by a tenant subject to a lease agreement expiring in 2026 with a net rental income attributable to the property of €0.34 million.

Trident House was valued at just over €11 million until January 2022, when it was subsequently revalued to €18 million in January 2023 and further increased to €20 million in January 2025. Accordingly, the consideration for the sale represents a €9.25 million (or €0.22 per share) premium over its latest asset value.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

On 27 October 2025, Trident Estates plc announced that it entered into a promise of sale agreement with BBT plc and OS Developments Limited to sell Trident House and its surrounding land comprising a total area of 13,593 sqm for a consideration of €29.25 million.

An amount of €4 million of the consideration was paid on account on the execution of the promise of sale agreement. An additional €1 million will be paid on account by 31 March 2026, while the balance of €24.25 million is payable in full and final settlement on the final deed of sale.

The promise of sale agreement shall remain valid until 30 May 2028, with the purchaser having the option to demand the final deed of sale earlier.

Trident Estates explained that the property is currently occupied by a tenant subject to a lease agreement expiring in 2026 with a net rental income attributable to the property of €0.34 million.

Trident House was valued at just over €11 million until January 2022, when it was subsequently revalued to €18 million in January 2023 and further increased to €20 million in January 2025. Accordingly, the consideration for the sale represents a €9.25 million (or €0.22 per share) premium over its latest asset value.