“Trident Estates plc – doubles profit in 2024…”

A year of growth recognition and strategic forward planning

The year under review has seen continuing interest in Trident Park, leading to a further increase in occupancy levels. This momentum, coupled with changes in tenancies across other properties, has resulted in higher rental incomes. Revenues for the year amounted to €4.2 million, an impressive 79% increase compared to the turnover in 2023.

Chairman Louis A. Farrugia said, “Operating profits for the year reached €2 million, doubling from €1 million last year.” The profit before taxation for the year stood at €1,298,000, compared to €7,486,000 in the previous year. The previous year’s higher profits were driven by significant unrealized fair value gains on the property portfolio.

As anticipated, the sharp increase in the European Central Bank reference interest rate has impacted borrowing costs.

Throughout FY 2024, the management team focused on the operational side of the development as new tenants populated the campus. Strong technical support was provided to incoming tenants concerning their fit-out requirements. The campus continued to attract interest from prospective new tenants, with numerous on-site viewings and presentations held. Tenant satisfaction remains at the heart of our endeavours, ensuring that office spaces align with the vision and requirements of occupants.

The performance over the past year has met the Company’s expectations and demonstrated the team’s resilience and unwavering commitment to excellence. As the achievements are celebrated, the Company is embarking on a comprehensive strategic review to ensure our continued growth and success in the dynamic market landscape.

Trident Park is a premier development in Malta, known for its sustainable design, innovative features, and commitment to enhancing the built environment.

Hili Finance Company plc – New Bond Issue

On 4 June 2024, Hili Company plc (the “Issuer”) published a Prospectus in relation to the issuance of €80 million 5.00% unsecured and guaranteed bonds maturing in 2029.

The proceeds from the new bonds will be used for:

• the rollover of the existing €36 million 5.10% 1923 Investments plc unsecured bonds maturing in December 2024;

• refinance bank loans that were recently used for capital and strategic investments; and (iii) general corporate funding purposes.

The Issuer will be granting preference to bondholders and shareholders of companies forming part of Hili Ventures Limited – to holders of securities of Harvest Technology p.l.c., Hili Properties p.l.c., Premier Capital p.l.c.

Relevant pre-printed Application Forms ‘A’ and ‘B’ will be mailed by the Issuer.

The general public may also participate in this Bond Issue by completing the general public Application Form ‘C’.

 The Offer Period will run between June 19, 2024 and July 10, 2024, subject to said offer period closing earlier with respect to any one or more classes of applicants depending on the total level of subscription in the Bond Issue.

Malta Company Announcements:

PG plc

The Board of Directors of PG p.l.c. announces that, following its approval, on 29 November 2023, of a first interim dividend for the financial year which commenced on 1 May 2023 and ended on 30 April 2024, it shall be convening on 25 June 2024 in order to consider and, if deemed fit, approve the distribution of a second interim dividend for the same financial year.

Mapfre Middlesea plc

The Board of Directors of MAPFRE Middlesea plc, is scheduled to meet on Monday, 29^th July 2024 to consider and approve the interim financial statements for the half-year ended 30^th June 2024.

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