“Tumas Investments Affirms Bond Repayment Will Remain Unaffected by Halland Ruling…”

Tumas Investments plc has reiterated that a recent court ruling concerning the Halland site in Swieqi will not have an impact on its plans to redeem a €25 million bond issue.

The ruling, issued by the Court of Appeals, annulled the development permit for a proposed residential project on the former Halland Hotel site. The project was being developed by Halland Developments Ltd, a subsidiary within the Tumas Group.

The company said the development had been undertaken on the basis of valid planning permissions and confirmed that it is in the process of reviewing the court’s decision to assess its potential consequences.

Tumas Investments further underlined that the redemption of its €25 million 3.75% Unsecured Bonds maturing in 2027 is not dependent on any income or proceeds from the Halland project. The company stated that it remains confident in its ability to meet its bond obligations independently of this development.

The project had previously been approved by the Planning Authority and the Environmental and Planning Review Tribunal. However, the Court of Appeals found that both bodies had failed to consider a relevant planning policy, casting uncertainty over the project’s continuation.

IG Industries Plc Strengthens Group Structure Through Impresa Acquisition

IG Industries Plc has completed a transaction resulting in the full consolidation of ownership of Impresa Limited, following the acquisition of the remaining 50 per cent shareholding previously held by KMN plc. The transaction became effective on 12 February 2026 and places ultimate control of the group with Joseph Borg.

The acquisition forms part of a broader group restructuring initiative as outlined in the prospectus published in December 2025. The consideration was partially funded through proceeds raised from IG Industries Plc’s bond issuance.

In parallel with the above, minority shareholdings previously held by Anton Borg in certain group entities were transferred to Joseph Borg. These changes were implemented as part of a wider reorganisation aimed at simplifying the group’s ownership and governance structure.

IG Industries Plc issued a prospectus in connection with an offering of up to €10.8 million in 5.75 per cent unsecured callable bonds, with maturities between 2031 and 2036. The prospectus sets out the intended use of funds, which includes an allocation of approximately €2 million towards the partial financing of the Impresa Limited share acquisition.

The prospectus also notes that IG Industries Plc was established to act as a group financing vehicle and that its financial performance is dependent on the operational results of Impresa Limited and its subsidiaries.

The Impresa Group is principally engaged in the manufacture of precision plastic components and electrical installation products, and has diversified over time into related supply, warehousing and distribution activities. Its financing operations are supported by IG Finance plc, which was incorporated in 2016.

Mediterranean Maritime Hub Publishes Overdue Accounts as Bond Repayment Hinges on Investor Deal

Mediterranean Maritime Hub (MMH) has published its long-delayed financial statements, providing some clarity after months of uncertainty surrounding the repayment of its €15 million bond due in October 2026.

The accounts follow repeated delays, failed refinancing efforts, and growing concern among bondholders over the risk of Malta’s first major corporate bond default.

The financial statements confirm that a binding agreement has been signed with third-party investors to acquire a minority stake in the guarantor company. The proposed transaction includes a capital increase and new funding, with the stated objective of ensuring full bond repayment at maturity. However, repayment remains contingent on the transaction closing, which is targeted for April 2026 and subject to regulatory approval.

While MMH Finance plc continues to generate stable finance income, the wider group remains highly leveraged, with liabilities of approximately €39 million in 2024 and limited profitability. More than €40 million has been invested in redeveloping the former Marsa Shipbuilding site, though the project has yet to reach full revenue-generating capacity.

MMH first acknowledged in 2024 that alternative financing would be required to redeem the bond. Subsequent investor talks and government-led negotiations failed, leaving bondholders exposed to ongoing execution risk.

Company Announcements:

AX Group plc

The Board of Directors of AX Group plc, is scheduled to meet on Friday, 20^th February 2026 to:

1. Consider and approve the Company’s annual financial report and consolidated audited annual accounts for the financial year ended 31^st October 2025 and

1. Consider the declaration or otherwise of a final dividend to be recommended to the Annual General Meeting of the Company

Malta International Airport plc

Malta International Airport plc announced on 13 February 2026 that its Board of Directors will meet on Wednesday, 25 February 2026, to consider and approve the financial statements for the year ended 31 December 2025. The Board will also review the possibility of declaring a dividend.

Bortex Group Finance plc

The Company announces that the Board of Directors is scheduled to meet on Thursday 26th February, 2026 in order to consider the Consolidated Annual Financial Statements of Bortex Group Holdings Company Limited (the “Guarantor”) and to approve the audited Financial Statements of Bortex Group Finance plc (the “Issuer”) for the year ending 31st October, 2025.

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