Tigné Mall plc - Directors’ Statement of Opinion
On 25 September 2024, Tigné Mall plc announced that following the launch of the Conditional Voluntary Public Takeover Offer made by Marsamxett Properties Ltd, the Board has evaluated the effects of its implementation on employment, conditions of employment, and the location of the Company’s place of business. The statement of opinion concluded that the acquisition of control in Tigné Mall plc by the Offeror should not result in any material change to the operations and business model of the Company and its strategy to remain the leading shopping centre in Malta. Furthermore, the Directors are of the understanding that the bid should not presently generate any significant changes to the actual employment structure and the conditions of employment of the company’s employees and management.
The Board of Directors stated that the price of the offer should be evaluated taking into consideration numerous aspects, including the current needs, aspirations, and individual circumstances of each individual shareholder. On this basis, no opinion was given on the price offered.