“New MGS Issues – July 2025 – Prices Announced…”

On July 4, 2025, the Treasury announced the issuance of two new Malta Government Stocks (MGS) with a total nominal value of €250 million, with the option to over-allocate up to an additional €150 million.

The details of the two new fixed-rate MGS issues are as follows:

• (i) 3.40% MGS 2035 (IV), issued at 100.00% of its nominal value (€100), offering a yield-to-maturity of 3.4000% per year; and

• (ii) 3.80% MGS 2040 (II), issued at 100.00% of its nominal value (€100), offering a yield-to-maturity of 3.7996% per year.

The general public may apply for these stocks in multiples of €100, with a maximum subscription limit of €499,900 per application.

Subscriptions will be open from Monday, July 14, 2025, to Wednesday, July 16, 2025.

Hudson Malta projects a 4.9% revenue growth in 2025 without expanding its retail footprint

Hudson Malta plc, the Malta-based segment of Hudson Holdings Limited, projects a 4.9% increase in revenue for 2025, even without major changes to its retail network.

The Hudson Group specializes in the retail and distribution of sportswear and fashionwear across Malta and internationally, including Italy, Cyprus, Morocco, Algeria, and Nigeria. They represent brands like NIKE, Intersport, Ted Baker, Converse, Crocs, Kiabi, and Mango.

Retail sales are expected to rise to €53.83 million, an 8.5% increase from 2024’s €49.62 million. While core operations are anticipated to be stable, wholesale and other income is forecast to decline slightly, by €1.07 million, to €13.45 million.

According to the company’s financial analysis summary, the cost of sales is also set to increase by 3.2%, reaching €43.8 million. This will lead to an 8.2% growth in gross profit, from €21.7 million to €23.48 million.

However, operating costs are forecast to climb significantly by 10.5%, from €13.51 million to €14.93 million.

Despite these rising costs, Hudson Malta expects profit after tax to reach €0.75 million in 2025, a substantial 38.9% increase over €0.54 million in 2024.

Two years ago, the group expanded by opening 29 retail stores across six countries, primarily in Morocco and Malta. By the end of 2023, they operated 93 stores in six countries, including six new outlets in St Julian’s Mercury Towers.

Together Gaming Solutions to Fully Redeem 5.9% Bonds Early as Group Consolidation Pays Off

Following a period of strategic consolidation and operational improvements, Together Gaming Solutions plc has announced the early redemption of its 5.9% unsecured callable bond, originally issued in 2019. This decision marks a shift in the company’s broader strategy following a recent merger and stronger financial results.

The Malta-based iGaming platform provider will fully redeem the bond on 22nd July 2025, ahead of its original maturity period, which spanned from 2024 to 2026. The bond, being unsecured and callable, was not backed by specific assets and could be repaid by the issuer before its scheduled maturity—terms which the company has now exercised.

In a notice published via the Malta Stock Exchange, the company confirmed that 9th July 2025 is the final day the bonds will be traded on the official list. All bondholders have already received formal notification of the redemption.

Investors whose names appear on the register by the close of business on 11th July 2025 will receive full repayment of their principal investment along with any accrued and unpaid interest as of the redemption date, 22nd July 2025.

The decision follows a marked improvement in the company’s financial performance. In its most recent financial statement, the company reduced its pre-tax losses from over €3 million in 2023 to just €349,000 in 2024. This turnaround was driven by increased revenues and reduced administrative and finance costs.

The improved financial position is largely attributed to enhanced product offerings stemming from the January 2024 acquisition of Together Gaming Solutions plc’s parent company, Gameday Group, by Sweden-based Cherry with Friends AB.

Malta Company Announcements:

Mapfre Middlesea plc

On 29 May 2025, Mapfre Middlesea plc announced that a meeting of its Board of Directors is scheduled for Monday, 28 July 2025, during which the approval of the interim financial statements for the six-month period ended 30 June 2025 will be considered.

HSBC Bank Malta plc

The Board of Directors of HSBC Bank Malta p.l.c. is scheduled to meet on Wednesday 30 July 2025 to: (i) consider and approve HSBC Bank Malta p.l.c.’s Interim Accounts for the half-year ending 30 June 2025; (ii) consider, and if thought appropriate, declare an interim dividend.

BMIT Technolgies plc plc

Admission to the Official List of 7,118,341 BMIT Technologies plc Ordinary Shares of a nominal value of €0.10 per share subsequent to a scrip dividend issue with effect from Friday 11th July 2025. Trading in these shares is expected to commence today, Friday 11th July 2025.

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