AX Group plc - Acquisition of Property

On 28 January 2020, AX Group plc announced that it reached an agreement with the owners of the land situated in Marsa, known as ‘tas-Sienja’, for an early acquisition of the site at a consideration of €6.9 million. In this respect, the Bond Prospectus dated 22 November 2019 had explained that the land has a developable area of approximately 6,600 sqm and that the preliminary agreement had an effective date up to 23 October 2020. Moreover, the Bond Prospectus indicated that AX Group has plans to develop the land into a mixed residential, office and commercial complex and that such development is expected to take place after 2026.

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