“MIDI plc Confirms T15 Building Sale in €5.5 Million Agreement…”

MIDI plc has signed a promise of sale agreement with The 540 Hub Ltd for the T15 Building at Tigné Point, Sliema, in a transaction valued at €5.5 million. The agreement covers the remaining period of the temporary utile-dominium linked to the original 99-year emphyteusis granted by the Maltese Government in June 2000.

The T15 Building, currently under construction, received planning permission last year as an office block. The development will offer approximately 1,400 sqm of flexible space across four floors, with retail and food & beverage units at ground level, terraces for office tenants, and a landscaped roof terrace. The building is located between The Point Shopping Centre and the public garden.

The agreement is subject to several conditions precedent and will remain valid until 30 June 2026. If these conditions are not met, the agreement will lapse without either party being obliged to execute the final deed of sale.

MIDI confirmed that net proceeds from the sale will be used to redeem its €50 million bond maturing in July 2026. As the T15 Building is still under construction, it currently generates no rental income, making the disposal a strategic step in the group’s portfolio reshaping.

This transaction follows a previous promise of sale for Fort Tigné, also at Tigné Point, to J. Portelli Projects Ltd, marking part of a broader divestment strategy ahead of upcoming bond obligations.

New Bond – 5.5% IZI Unsecured Bonds 2036

The bond issue is being launched by IZI Finance plc, the financing arm of the IZI Group, which operates in Malta’s land‑based gaming sector, including the national lottery, Dragonara Casino, and IZIBET sports betting. The group has posted strong interim results and is targeting international expansion, which the new bond issuance is intended to support.

Issue Details

• Coupon: 5.5% per annum
• Maturity: 2036
• Minimum: 2,000 (nom)
• Purpose: Raise up to €30 million to finance the next phase of IZI Group’s international growth and provide financial flexibility.
• Investor Access: Open to all categories of investors, including the general public and existing bondholders of IZI Finance’s 4.25% 2029 bonds.

If you are interested in participating in this bond issue, please contact us on 20908100 and our team will be happy to assist you.

AX Real Estate plcAnnounces Record Dividend Following Strong Revenue Growth in 2025

AX Real Estate plc has announced a €7 million dividend distribution following a strong financial year marked by a €2 million increase in rental income.

Shareholders will receive a dividend of €0.02586 per ordinary share, substantially higher than the €0.01788 interim dividend previously paid. This represents the highest dividend distributed since the company— a subsidiary of the AX Group—was listed. At the time of its initial public offering, the company had targeted investors with a projected dividend yield of 6.4%.

For the financial year 2025, AX Real Estate plc reported revenues of €21.6 million, up from €19.4 million in 2024, primarily driven by rental income from its investment property portfolio.

Revenue growth was led by the hospitality segment, where rental income rose from approximately €16 million in 2024 to €18.3 million in 2025. This increase was largely attributed to the exceptional performance of the reopened AX ODYCY Hotel and Lido, which generated higher variable rental income.

The company’s hotels in Sliema and Valletta also exceeded projected revenues and operating profit targets. Meanwhile, early performance indicators for the newly opened Verdala Wellness Hotel have been encouraging. Since opening in August 2025, the property has shown steady progress and is positioning itself as a leading five-star wellness destination, despite still being in the early stages of operation.

HSBC Bank Malta Posts €109 Million Pre-Tax Profit as Deposits Reach Record High

HSBC Bank Malta delivered a resilient financial performance in 2025, with another year of solid profitability, recording pre-tax earnings above €100 million for the third year running.

Profit before tax for the year reached €109 million. Compared to 2024, this represents a 29 per cent reduction, largely reflecting the normalisation of interest rates and lower releases of expected credit losses, rather than a weakening in underlying business activity.

Balance sheet growth remained strong. Customer deposits increased by €370 million to a new record level of €6.5 billion by year-end, driving a gain of more than one percentage point in deposit market share.

The Bank also continued to expand its wealth and protection franchise. Client wealth management and investment balances rose by 28 per cent to €1.1 billion, while life insurance sales increased by 21 per cent over the year.

After tax, profit attributable to shareholders amounted to €71.6 million, translating into earnings per share of 19.9 cents, compared with 27.8 cents in the previous year.

Reflecting the Group’s capital position and earnings profile, the Board has proposed a total dividend for 2025 of 18.4 cents per share, equivalent to a payout ratio of 60 per cent.

Plaza Centres and AX Real Estate Propose Share Buybacks to Support Liquidity

Plaza Centres plc and AX Real Estate plc have announced plans for share buyback programmes aimed at improving liquidity in the secondary market. The proposals will be submitted to shareholders for approval at upcoming meetings.

Plaza Centres Buyback

Plaza Centres will convene an EGM on 25 March to seek authorisation to repurchase up to 2.4 million shares over an 18-month period, at a price range of €0.75–€0.95 per share, representing a total potential outlay of €1.8–€2.28 million. Shares repurchased under the programme would be cancelled. Shareholders will also vote on a reduction in the size of the Board of Directors and a bonus share issue.

Following the announcement, Plaza Centres’ shares rose 15.4 per cent to €0.90. The buyback follows Virgata Group’s acquisition of a 31.4 per cent stake, making it the largest shareholder. Virgata founder Jordi Goetstouwers Odena said the programme aims to support the share price, improve liquidity, and narrow the gap between market and intrinsic value.

AX Real Estate Buyback

AX Real Estate plc will propose a one-year share buyback at its AGM on 24 April, allocating €1 million from retained profits. Daily purchases will be limited to 25,000 shares per shareholder, with a maximum price not exceeding the company’s net asset value per share (€0.55). Repurchased shares may be held for resale or other permissible uses.

These buyback initiatives follow similar programmes by M&Z plc, Malta International Airport, and Bank of Valletta. Such programmes are increasingly being used in the Maltese market to bolster share prices and offer small shareholders a fair exit amid subdued trading volumes, which in 2025 were roughly half those recorded in 2019.

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