“Frasers Group plc, a leading international retailer, acquires a 41.98% stake in Malta-based Hudson Holdings Limited…”

Frasers Group, the UK-based retail giant known for Sports Direct and House of Fraser, has acquired a substantial 41.98% stake in Malta’s Hudson Holdings Limited.

Hudson Holdings operates popular retail chains like Urban Jungle, Urban Bratz, and Hudson Store. They also represent major sports brands such as Nike, Converse, Timberland, New Era, and Intersport, as well as fashion and designer brands like Armani Exchange, Mango, Tommy Hilfiger, Calvin Klein, and Kiabi.

A leading fashion retailer in Malta with a presence in European and North African markets, Hudson Holdings also serves as the official Nike distributor in over 29 countries.

This significant investment by Frasers Group, headed by Mike Ashley, finalizes an agreement reached between the two companies in October 2024. The agreement allows for potential future phased acquisitions by Frasers Group, potentially leading to a controlling interest in Hudson Holdings.

In a public statement, Hudson Holdings reiterated its commitment to transparency, promising to keep stakeholders informed of any significant developments. The company also announced the resignation of George Amato and Kevin Valenzia from its Board of Directors, and the appointment of Stephen Paris.

Mr. Paris is a highly experienced accountant and auditor with a distinguished 30-year career at Deloitte Malta, where he became a partner in 2000. He held various leadership positions, including Head of Audit, Financial Services Industry Leader, and Head of Risk and Regulatory Advisory, before retiring from Deloitte Malta in 2019.

With a diverse workforce of over 1,000 employees representing more than 50 nationalities, Hudson operates a modern distribution center near Malta’s airport and freeport, strategically positioned to serve the African market. This facility highlights the company’s focus on efficiency and high-quality service.

Frasers Group’s acquisition of Hudson Holdings is expected to usher in a new period of growth and opportunity, enhancing Hudson’s competitive edge in the global retail arena.

Tesla, Microsoft and Meta post mixed earnings results

The results for major US tech companies were mixed: Tesla and Microsoft fell short of expectations in core business growth, while Meta Platforms exceeded projections despite legal challenges.

Tesla’s stock rose 4% after an initial drop, Microsoft’s fell 4.6%, and Meta increased by 2.3% after hours.

Tesla: Focus on autonomous vehicle growth Tesla missed Q4 earnings and revenue expectations, but investors were more optimistic about its growth potential. The company highlighted plans for affordable new vehicles and a target of nearly three million vehicles in production, projecting 60% year-on-year growth.

In Q4, Tesla’s revenue grew 2% year-on-year, down from 8% in the previous quarter. Automotive sales dropped 8%, and gross margin fell to 16.3%. However, the energy storage segment saw a 113% revenue increase, with Tesla expecting at least 50% growth in this business this year.

Microsoft’s core Azure Cloud growth slowed, despite beating profit and revenue expectations. The AI segment grew 31%, down from 33%, and growth is expected to be flat next quarter due to data center capacity constraints.

Overall, Q2 revenue grew 12.3%, the slowest since June 2023, with earnings per share of $3.23, beating the expected $3.12.

The company’s spending exceeded expectations, reflecting continued heavy investment in AI infrastructure. CFO Amy Hood stated, “We’re balancing operational discipline with ongoing cloud and AI investments.”

CEO Satya Nadella highlighted the $13 billion annual run rate of Microsoft’s AI business, up 175% year-on-year, adding, “We’re helping customers maximize AI’s ROI.”

Microsoft’s shares are up nearly 4% year-to-date as of Wednesday’s close.

Meta’s Q4 2024 revenue hit $48.39 billion, a 21% year-on-year increase, with profit at $8.02 per share, exceeding expectations. The company also saw rapid growth in its Meta AI chatbot, reaching 600 million users, with CEO Mark Zuckerberg projecting one billion users in 2025.

Despite strong results, Meta’s revenue guidance for the current quarter missed market expectations, and it did not provide a 2025 outlook, stating, “We expect our investments this year to drive strong growth in 2025.”

Meta warned that regulatory challenges in the EU and US could “significantly impact” its business. The Wall Street Journal reported a $25bn (€24bn) settlement with President Trump, and Zuckerberg sees 2025 as a pivotal year in reshaping the company’s government relations.

As of January 29, Meta’s stock leads the Magnificent Seven, up 14.71% year-to-date.

New Issue of Fixed Rate Malta Government Stocks – February 2025

The Treasury announced the issue of three hundred million Euro (€300,000,000) Malta Government Stock in any one or any combination of the following two stocks:

• 3.00% Malta Government Stock 2030 (IV) and
• 3.50% Malta Government Stock 2035 (III)

subject to an over-allotment option of Euro 150,000,000 in the event of over-subscription.

The price for each stock offered to retail investors shall be published through a Press Release by the Department of Information on Thursday, 13^TH February 2025.

The public can apply starting Monday, 17th February 2025 and close on Wendesday, 19^th February 2025.

Further details about these stocks can be found in the Offering Circular, which will be available for download from the Treasury Department’s website starting Friday, 7^th February 2025.

Malta Company Announcements:

Mapfre Middlesea p.l.c

The Board of Directors is scheduled to meet on Tuesday, 25^th March 2025 to discuss the following items:

• Consideration and approval of the Company’s Audited Financial Statements for the financial year ended 31^st December 2024.

• Consider the declaration of a dividend, if any, to be recommended to the Annual General Meeting of Shareholders.

Agora Estates p.l.c

The Company refers to company announcement AGR09/2024 issued on 11 September 2024 in relation to the permission granted by the Planning Authority for PA/00452/23 to develop the site into a commercial development consisting of underground basement parking, a showroom at ground floor and offices class 4A at upper levels.

Clearance for the commencement of works has been provided by the Building and Construction Authority. The planned development has commenced in line with the timeline outlined in the base prospectus dated 09 February 2024 relating to the issue of up to €21,000,000 secured bonds.

Loqus Holdings p.l.c

The Company announces that the Annual General Meeting of the Company has been held on the 28th January 2025. 

All resolutions on the agenda were approved, namely:

ORDINARY BUSINESS

1. Approval of Audited Financial Statements

That the Profit and Loss Account and balance Sheet for the period ended 30 June 2024 and the Directors’ report and the Auditors’ Report thereon be hereby received and approved.

• Appointment of Auditors

That Mazars Malta of The Watercourse, Level 2, Mdina Road, Zone 2, Central Business District, Birkirkara, be and are hereby appointed as auditors of the Company and that the Board of Directors be and is hereby authorized to fix the auditors’ remuneration.

• Appointment of Directors

Eight valid nominations were received from each of Walter Bonnici, Joe Fenech Conti, Anthony Demajo, Joseph Roland Scerri, Lawrence Zammit, Joannie Grima, Reuben Attard and Ian Fenech Conti. In view of the fact that there were fewer nominations than there were vacancies on the board, the nominated persons were automatically appointed directors.

ORDINARY RESOLUTION – SPECIAL BUSINESS

• Remuneration Report – Advisory Vote

That the Remuneration Report of the Company for the year ended 30 June 2024 be hereby approved.

• Remuneration policy for Directors

That the remuneration policy recommended by the directors and set out in the document attached to this notice and explained in a shareholders’ circular, be and is hereby approved.

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