Premier Capital plc - Eviction of Valletta Premises

On 2 March, Premier Capital plc issued a company announcement confirming media reports earlier this week that the Court of Appeal ordered the operators of the McDonald’s restaurant to evict the premises in Republic Street, Valletta within 90 days due to a breach in the rental agreement.

Premier Capital plc, which runs 54 McDonald’s restaurants in Malta, Estonia, Latvia, Lithuania and Greece, confirmed that this court injunction does not affect any of the remaining restaurants located in Malta also indicated that the outcome of its judgement is not considered to have a material effect on the business of the Premier Capital Group and its ability to honour its obligations towards bondholders. However, Premier Capital also announced its intentions of retaining a presence in Valletta and it will therefore be considering possible options with a view of securing an appropriate alternative to the current outlet in Republic Street.