AX Real Estate plc - Update on Qawra Lidos Property

On 31 May 2024, AX Real Estate plc announced that it concluded negotiations with the Government of Malta with respect to the property forming part of the Sunny Coast Lido, the Luzzu Complex, and the AX ODYCY Lido. In this respect, its subsidiary Suncrest Hotels plc acquired the property by title of Temporary Emphyteusis for a period of 65 years. Furthermore, all pending litigation with the Government of Malta was settled and the responsibility for the payment of such consideration were assumed by AX Group plc.