Malita Investments plc - Outcome of EGM
On 14 December 2023, Malita Investments plc announced that during an Extraordinary General Meeting (EGM), shareholders approved all the resolutions. The resolutions include giving authority to the Board of Directors to give effect to a rights issue and subsequently allot new ordinary shares, the re-designation of Malita’s shares, the increase in the authorised share capital, as well as the replacement of the company’s Memorandum and Articles of Association.
Malita also published the presentation that was delivered to shareholders present at the EGM. The presentation includes updated information with respect to the ongoing Affordable Housing Project, which is estimated to cost approximately €120 million. In this respect, Malita explained that the funding for the project is composed of €58 million in existing bank funding, an additional €30 million in bank debt with approvals in place, and the remaining €33 million is anticipated to be raised via a proposed Rights Issue in the first quarter of 2024.