Tigné Mall plc - Conditional Voluntary Public Takeover Bid
On 10 September 2024, Tigné Mall plc announced that it has been informed by the company’s largest shareholder, Marsamxett Properties Ltd (holding 49.68% of the issued share capital of the Company), a wholly owned subsidiary of Hili Ventures Limited, of its intention to launch a conditional voluntary public takeover bid for the acquisition of all the issued share capital of the Company, in accordance with Chapter 11 of the Capital Markets Rules.
In their letter, the Directors of Marsamxett Properties Ltd explain that if the 90% squeeze-out threshold is reached and if the offer becomes unconditional, Marsamxett Properties Ltd intends to exercise its right set out in the Capital Markets Rules to require all the then-remaining shareholders of the Company to sell and transfer to the Offeror the remaining shares.