“HSBC reviews Malta business for possible sale…”

On Wednesday morning, HSBC Malta issued a statement, announcing that HSBC Holdings plc (the majority shareholder) informed the Board of Directors that it will undertake a strategic review of its indirect 70.03% shareholding in the Bank. “The Bank recognises the important role it plays in Malta’s economy and society and is making this announcement in line with its market obligations, and to support the smooth functioning of the public market.”

HSBC Malta’s majority shareholder has told the bank that its “review process is at an early stage, will consider a range of options and no decisions have yet been made,” after HSBC Malta sought clarifications following reports that the shareholder was in negotiations with APS Bank.

The review comes just days after new CEO Georges Elhedery took charge of the bank, and follows a slew of exits and asset sales by HSBC in Western markets where it lacks scale as it pivots its focus to Asia.

“Marsamxett Properties announced plans to acquire Tigné Mall p.l.c….”

Marsamxett Properties Ltd., part of Hili Ventures, has announced plans to make a public offer to buy all remaining shares of Tigné Mall p.l.c., which operates The Point shopping mall in Sliema.

Through its bid, it will offer to buy the remainder of the shares currently held by members of the public and listed on the Malta Stock Exchange at a fixed price.

A subsidiary of Hili Ventures, the company currently owns 49.68% of Tigné Mall plc.

It is now looking to buy the rest of the company’s shares, which are listed on the Malta Stock Exchange.

In a statement released on Wednesday (today), Hili Ventures declared its intention to “make a voluntary public offer for the share capital” of the company, effectively taking it private.

Marsamxett Properties already owns 49.68 per cent of the company and is now aiming to purchase the rest from the public at a fixed price.

If Marsamxett Properties succeeds in acquiring 90% of the company, it will then be eligible to squeeze out remaining shareholders and assume sole ownership of The Point. 

The Tigné Mall board was officially informed of Marsamxett Properties’ intention to launch a conditional voluntary public takeover bid on 10 September.

In a company announcement, Hili Ventures said details about the price and conditions will be shared soon.

Malta Company Announcements:

Medservregis p.l.c

The Board of Directors of the Company is presently evaluating the possibility of effecting a share and/or bond buy-back. The extent of the same and required processes, including those from a corporate, financial, timing and regulatory perspective, whilst also maintaining focus on dividend distributions, are still being analysed.

As and when the Board determines that either or both of these steps are in the best interests of the Company, appropriate announcements to the market will be made. There is no guarantee that this will be possible, and if at all, when such buy-back will be carried out.

Trident Estates p.l.c

On 13 August 2024, Trident Estates plc announced that its Board of Directors is scheduled to meet on Wednesday 11 September 2024 to consider the approval of the financial results for the six-month period ended 31 July 2024.

Main Street Complex p.l.c

The Directors declared a net interim dividend of €0.0054 per share. The dividend is payable by Thursday 12 September 2024 to all shareholders as at close of trading on Wednesday 28 August 2024.

Malta International Airport p.l.c

After a strong financial performance, the Board of Directors declared a net interim dividend of €0.06 per share, to all shareholders as at close of trading on Tuesday 20 August 2024.

HSBC Bank Malta p.l.c

HSBC Bank Malta p.l.c. (‘the Bank’) announces that HSBC Holdings plc yesterday evening informed the Board of Directors that it will undertake a strategic review of its indirect 70.03% shareholding in the Bank.  The Bank recognises the important role it plays in Malta’s economy and society and is making this announcement in line with its market obligations, and to support the smooth functioning of the public market. The Bank will make further announcements as and when required.

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