Hili Properties plc - Conditional Voluntary Takeover Bid Results

On 4 April 2025, Hili Properties plc announced that it was informed that as at the end of the acceptance period of the Conditional Voluntary Takeover Bid, that 501 acceptance forms were received for a total of 51,749,622 ordinary shares, representing just under 12.91% of the entire issued capital.

Hili Ventures Limited informed the Hili Properties plc that all the conditions set out in the Offer Document were fully satisfied and that the Voluntary Bid is now unconditional in all respects.

Once payment has been transferred to the outgoing shareholders by not later than 23 April 2025, Hili Ventures Limited is expected to hold 351,749,612 ordinary shares, reflecting just over 87.74% of the issued share capital of Hili Properties plc. Accordingly, Hili Properties plc has requested for a derogation to be granted by the MFSA in terms of Capital Market Rule 3.26, given that less than 25% of its outstanding shares are in the hands of the public.

Following the completion of the Offer, Hili Ventures Limited will not be proposing a motion to de-list Hili Properties plc at this time. Consequently. Hili Properties plc shall request to trigger the commencement of trading of shares of the Company on the Malta Stock Exchange with effect from April 22, 2025.

Hili Ventures Limited expressed its intent to ultimately pursue the acquisition of 100% of the shares of Hili Properties plc and to subsequently propose the de-listing of the shares from the Official List of the MSE.