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Tigne Mall plc (‘Company’) issued a formal notice announcing the combined offering of 56,400,000 shares. MIDI plc and Tigne Contracting Limited (collectively referred to as the Offerors) will be offering their existing holding of 42,400,000 shares and the Company will be issuing a further 14,000,000 new shares. The shares are being offered at the nominal value of €0.50 per share and will be admitted to the Official List of the Malta Stock Exchange.
MSV Life plc has entered into a pre-allocation agreement whereby it has undertaken to purchase 20,000,000 shares, equivalent to 35.5% of the total issued share capital.
Tigné Mall plc was originally set up on 1 December 2004 with the sole purpose of managing and operating ‘The Point’ as well as 253 car spaces. The Point is a shopping mall built according to the latest international standards comprising 14,349 square metres of retail space spread across three floors. The mall’s 50 retail units are all occupied with Debenhams being the anchor tenant.
The €20.9 million net proceeds from the share offer will be for the benefit of the offerors (the MIDI Group) who are realising their investment in the Company. Meanwhile, the Company will raise net proceeds of €6.5 million from the issue of new shares which will be used to partially reduce its existing borrowings.
The Minimum Application for Preplacement of shares is 50,000 shares (equivalent to €25,000) and in multiples of 100 shares (equivalent to €50) thereafter.
The Minimum Application for shares for Preferred Applicants is 2,000 shares (equivalent to €1,000) and in multiples of 100 shares (equivalent to €50) thereafter.
The Combined Offer Period will be between 15 April 2013 – 19 April 2013 (or earlier in the case of over-subscription) and the Minimum Application for shares during the Combined Offer Period is of 2,000 shares (equivalent to €1,000) and in multiples of 100 shares (equivalent to €50) thereafter.
Investors interested In applying for these Ordinary Shares are kindly requested to complete the application form below and return to us by not later than Friday 12th April 2013 at 10:00am. Payment can be made either by cheque (made payable to ‘’Calamatta Cuschieri & Co. LTD’’) or by direct credit to one of our bank accounts in the application form. For assistance in completing the application forms or an opinion on these investments please do not hesitate to contact us on Tel: 25 688 688 or send us an email on [email protected].
Application form: Tigne Mall Application Form
Prospectus: Tigne Mall Prospectus
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