MIDI plc - ‘COVID-19’ Market Update

On 9 April, MIDI plc issued a company announcement reiterating their statement disclosed in the company announcement issued on 25 March 2020, that the ‘COVID-19’  pandemic  will  significantly  impact  the  Company’s  operations throughout  2020  especially  the  sale  of  the  residential  units  the  Company currently  holds  in stock  as  well  as  its  rental  operations. Moreover, MIDI reiterated that delays  on  different  fronts  may  also  be  encountered  with respect to both the Q3 Residential Block (at Tigne Point) and the Manoel Island development projects.

Nonetheless, MIDI plc noted that although 2020 is expected to be a challenging year, it has  sufficient  funds  to meet its obligations as they fall due including the payment of interest which  falls  due  on  the  27  July  2020 with respect to the 4% Secured Bonds maturing in 2026.

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