“VBL Group Announces Dividend Distribution and Strategic Development Progress…”

VBL Group, Valletta’s largest private landowner, has announced that it will be distributing a €220,000 dividend to its shareholders.

The gross dividend equates to €0.0008829 per ordinary share and will be paid on 25 November 2025 to all shareholders registered as of 1 July 2025.

VBL Group has continued to strengthen its position as a key operator in Valletta’s real estate market, maintaining a diversified portfolio across both hospitality and commercial sectors. The Group’s strategy remains focused on the acquisition, restoration, development, and management of premium properties within the capital.

In 2024, the Group raised €10 million through a bond issue to support the completion of significant redevelopment projects in Strait Street and West Street, as well as ongoing upgrades across its broader property portfolio.

Furthermore, earlier this year VBL entered into a long-term lease agreement with Ruby Hotels Ltd to operate what is anticipated to become the largest hotel located within Valletta’s historic city walls.

New Combined Issue of Malta Government Stocks

The Government of Malta will be launching a new Combined Issue of Malta Government Stocks, as outlined below:

• 2.55% Malta Government Stock 2030 (V) – Offered to both Retail and Wholesale Investors by auction.

• 3.40% Malta Government Stock 2035 (IV) (Fungibility Issue F.I.) – Offered to both Retail and Wholesale Investors by auction.

• 3.80% Malta Government Stock 2040 (II) (Fungibility Issue F.I.) – Offered to both Retail and Wholesale Investors by auction.

The Accountant General will be offering an aggregate nominal amount of €350,000,000, in any combination of the above three stocks, with the option to increase the issue by up to €100,000,000 in the event of over-subscription.

The Offering Circular will be published in today’s Government Gazette (Friday, 7 November 2025). A copy is attached for your convenience.

CPHCL Finance plc Files Application for €45 Million Bond Issue

CPHCL Finance plc, the financing arm of CPHCL Company Ltd — the majority shareholder of Corinthia Group (IHI plc) and investor in several other businesses including MIH, Swan Laundry, Danish Bakery, RQT, Palace Landscaping, MFCC and real estate projects — has applied to the Malta Financial Services Authority (MFSA) for the admissibility to listing of a €45 million 5.35% unsecured bond maturing in 2035.

The new bond issue is intended primarily to redeem the existing €40 million 4.25% unsecured bonds due in 2026. The remaining proceeds, after expenses, will be directed towards capital expenditure across the wider Group.

Subject to approval, current holders of the 2026 bonds will be given preference to exchange their holdings for the new bonds. Eligibility is set as at 7 November 2025, with the last trading date for the 2026 bonds on 5 November 2025, after which trading will be suspended.

Any amounts not taken up by existing bondholders, together with an additional allocation of up to €5 million, will be offered via authorised financial intermediaries.

Further details will be published once MFSA approval is granted.

CPHCL Finance also reported higher revenues in its unaudited half-year results to 31 August 2025 and expects both revenue and EBITDA to increase for the full year, supported by the first full year of operation of new IHI hotels. The Group continues to focus on cost management and is exploring the sale of non-core assets, expecting to conclude a hotel disposal by year-end, with proceeds to be used for debt reduction, dividends, and reinvestment.

SD Finance plc Publishes Allocation Results Following Fully Subscribed €30 Million Bond Issue

SD Finance plc, the funding arm of the db Group, has issued the allocation results for its recent €30 million bond offering, which was fully subscribed.

The offer was open to three groups: existing holders of the Group’s 2027 bonds, individuals connected to the db Group such as directors, employees and shareholders, and investors applying through Authorised Financial Intermediaries.

Preferred Applicants submitted €21.24 million in applications, all of which were satisfied in full. The remaining €11.76 million was distributed among participating financial intermediaries.

This bond issue, which carries a 5.2% interest rate and matures in 2031, is the first part of a wider €60 million fundraising programme.

Most of the proceeds will be used to streamline existing internal financing arrangements. Around €7 million will be allocated to the repayment of an internal loan linked to the acquisition of Porto Azzurro, and approximately €20 million will go towards settling internal funding used for the St George’s Bay project. The balance of €5.4 million will support the Group’s general corporate needs.

In its statement, the db Group expressed its appreciation to investors and intermediaries for their confidence and continued support.

Shoreline Mall plc Reports €1.6 Million Loss in First Year of Operations

Shoreline Mall plc, the company behind The Shoreline Mall in SmartCity, Kalkara, reported a €1.6 million loss for the financial year ended 30 June 2025.

In its first full year of activity, the mall generated €2.4 million in net rental income and an operating profit of €56,453, after €1.9 million in depreciation and amortisation. The final loss was mainly driven by financial costs.

The company manages the mall and carpark operations and is also developing residential villas on the site. Construction is complete, with finishing works underway, and sales are expected to begin next year.

Shoreline Mall plc noted the upcoming maturity of its secured bonds on 1 August 2026 and said it is pursuing refinancing options, including potential support from related group companies and a bond rollover. Management stated it expects funding to be secured in time.

Total assets stood at €76 million as at June 2025, down from €85 million the previous year.

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