“BMIT Technologies Calls EGM to Approve €25.3 Million Strategic Stake in Malta Properties Company…”

BMIT Technologies plc is set to hold an Extraordinary General Meeting (EGM) to seek shareholder approval for a significant strategic investment: the proposed acquisition of a49% equity stake in Malta Properties Company plc (MPC).

This development follows the signing of a Share Purchase Agreement between BMIT Technologies and Emirates International Telecommunications (Malta) Limited (EITML), a shareholder in both GO plc (BMIT’s parent company) and MPC.

Under the terms of the agreement, BMIT Technologies will acquire 49,642,139 ordinary shares in MPC at a price of €0.51 per share, bringing the total consideration to approximately €25.3 million. The acquisition is subject to regulatory and shareholder approval.

The EGM is scheduled to take place on Tuesday, 30th September 2025 at 2:00 PMat The Westin Dragonara Resort in St Julian’s. Shareholders listed on the company’s register as of 31st August 2025 will be formally notified and granted the right to attend and vote at the meeting.

This shareholding represents a substantial portion of MPC’s total issued capital and provides BMIT with access to a portfolio of strategic real estate assets that are critical to Malta’s digital and telecommunications infrastructure.

MPC’s portfolio includes several commercial properties that support core ICT and telecom operations across the island. The transaction is aligned with BMIT Technologies’ long-term strategy to enhance operational resilience, diversify revenue streams, and secure assets that complement its digital infrastructure offering.

The proposed acquisition has received the unanimous backing of BMIT’s Board of Directors, following a comprehensive assessment conducted by the Audit Committee in line with Capital Markets Rules governing related party transactions.

If approved, this acquisition is expected to strengthen BMIT Technologies’ market position as a leading provider of cloud services and digital infrastructure in Malta, while expanding its footprint into the ownership of physical assets that are central to the country’s technology ecosystem.

BMIT remains committed to delivering long-term value to shareholders through strategic growth initiatives and operational excellence.

Bank of Valletta Launches Share Buyback Programme

Bank of Valletta has officially launched its Share Buyback Programme, effective 18 August 2025, becoming the first credit institution in Malta to introduce such a scheme. The programme aims to enhance market liquidity and provide shareholders with an orderly exit mechanism at fair market value.

The Bank has allocated €7.8 million from H1 2025 profits to repurchase up to 3,060,000 shares over 12 months. Purchases will be executed within a price range of €1.55 to €2.55 per share and retained as Treasury Shares for potential future use in strengthening the Bank’s capital structure.

CFO Kevin Cardona emphasized that the programme operates under a clear policy framework ensuring compliance with Market Abuse Regulations, transparency, and equitable treatment of all shareholders. Chairperson Gordon Cordina and CEO Kenneth Farrugia noted that the initiative complements recent shareholder-focused measures, including the bonus share issue and half-year dividend, and reflects strong investor interest in BOV shares.

All transactions will be disclosed via the Malta Stock Exchange and the Bank’s Investor Relations website.

MeDirect Group Reports Interim Loss Amid Strategic De-Risking

MeDirect Group (MDB Group), headquartered in Malta, has reported a pre-tax loss of €3.9 million for the first half of 2025, compared to a €0.55 million loss in the same period last year. The decline was largely the result of the Group’s deliberate de-risking strategy, which has reduced exposure to its international credit portfolio.

Operating income decreased by 11.4 per cent to €39.6 million, reflecting lower net interest income from the International Corporate Lending portfolio. Operating costs rose to €41.2 million, mainly due to higher regulatory charges; however, when excluding these, underlying expenses were 4 per cent lower year-on-year. Expected credit losses fell to €2.3 million, down from €6 million in 2024.

In Malta, the Group continued to strengthen its position, with mortgage lending up 7 per cent and corporate lending increasing by 14 per cent.

A final decision on the proposed acquisition of MDB Group by Banka CREDITAS, which is seeking to acquire 100 per cent of the Group’s shares, is expected in the second half of 2025. Regulatory submissions have been filed in Malta and Belgium, with the application currently under review by the European Central Bank.

Dizz Group Reaffirms Commitment to €8M Bond Repayment Amid Financial Challenges.

Dizz Group has issued a company announcement addressing recent media coverage concerning its financial position and upcoming bond repayment.

Dizz reaffirmed its commitment to meeting all obligations, including the repayment of its €8 million unsecured bond maturing in 2026. The Group said it is “actively implementing measures” to protect bondholders’ interests and confirmed ongoing discussions with regulators.

The audit report for 2024 noted a €2.69 million loss, largely linked to depreciation and lease costs, and stressed that successful refinancing will be critical. While acknowledging the challenges, directors Diane and Karl Izzo expressed confidence that the Group’s initiatives will secure the necessary funding. Ms Izzo reiterated that repayment of the bond will be honoured “beyond any speculation.” Dizz Group operates a diversified portfolio of fashion, food and beverage outlets — representing brands such as Nespresso, Caffè Pascucci, Michael Kors and Terranova — and also owns residential, office and commercial properties, including the D Business Centre in Mrieħel.

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