Issue link: https://maltatoday.uberflip.com/i/1434006
4 MARKET NEWS 2.12.2021 30 November 2021 AX Investments plc Reference is made to previous company announcements published by the Company (AXI233/2021, AXI234/2021, and AXI235/2021) in connection with plans by AX Real Estate p.l.c. (C92104) ("AXRE"), a subsidiary of the Company's Guarantor AX Group p.l.c., to submit an application to the Malta Financial Services Authority (the "Authority") requesting the admissibility to listing on the Official List of the Malta Stock Exchange of: - a class of shares in AXRE of a nominal value of €0.125 per share, 33,333,333 ordinary 'A' shares of which will be offered for sale to the public at an offer price of €0.60 per share, subject to an over-allotment option which, if exercised, would increase the offer to up to an aggregate of 50,000,000 ordinary 'A' shares (the "Share Offer"); and - €40,000,000 in 3.5% unsecured bonds of a nominal value of €100 per bond to be issued at par by AXRE, redeemable in 2032 (the "Bond Issue"). The Share Offer and the Bond Issue are hereinafter collectively referred to as the "Combined Offer". The purpose of this announcement is to inform the market that the necessary application relative to the Combined Offer has been duly filed with the Authority. Subject to obtaining regulatory approval, whilst the Combined Offer shall be available for subscription for all categories of investors (including the general public, through Authorised Financial Intermediaries), the following persons, without any priority or preference among themselves, shall be given preference in the allocation of the shares forming part of the Share Offer (the "Offer Shares") and the bonds forming part of the Bond Issue (the "Bonds"): • holders of the: - €40 million 6% AX Investments p.l.c. Bonds 2024; - €15 million 3.25% AX Group p.l.c. (Series I) Bonds 2026; and - €10 million 3.75% AX Group p.l.c. (Series II) Bonds 2029, appearing on the respective register as at close of business on 17 December, 2021 (with the last trading date being on 15 December, 2021); and • employees of the AX Group who have been in employment since at least 31 October, 2021. Further detailed information on the Combined Offer shall be available in the prospectus drawn up by AXRE, which will be published in due course following attainment of the necessary approvals by the Authority. International Hotel Investments plc Issue of €80,000,000 Bond update The Company is pleased to announce that its €80 million bond offer was oversubscribed by the offer date of 30th November 2021. The allocation policy will be announced on 7th December 2021, as communicated in the bond prospectus documentation. The Company wishes to thank the Authorised Financial Intermediaries and the investing public for their support in, yet again, making this issue a successful one. Operational update As the travel industry worldwide shows signs of recovery, IHI also witnessed an increase in demand, revenue generation and profitability in the second half of the year relative to 2021 year-end forecasts published earlier in the year. The Company had announced, when publishing its financial analysis report in October 2021, that it was expected to generate a €15 million EBITDA for the full year of 2021. As matters stand today, with actual results now in hand up to November, the Company is forecasting EBITDA for the year to exceed €24 million, relative to the €3.8 million EBITDA loss for 2020. The rate of recovery in the Company's portfolio of hotels varies, with properties focused on the leisure segments faring better than others dependant on the meetings and conference business. The Company will be keeping the market updated with developments on a regular basis. Simonds Farsons Cisk plc With deep regret, the Company announces the passing away of Baroness Christiane Ramsay Scicluna on 25th November 2021. Baroness Ramsay Scicluna was appointed to the Board on 1st July 2015. 29 November 2021 MedservRegis plc The Company's business activities improved steadily albeit slowly following the COVID-19 pandemic. The pandemic resulted in most of the offshore drilling activity being suspended from the second quarter of 2020, due to the inability to provide a safe working environment, travel bans and closure of ports. During the period under review, the largest contributor to EBITDA was the Oman division. On a year-to-date basis, the Mozambique entity has produced the best cash contribution. This is expected to slow down as a consequence of a Force Majeure Event declared earlier in the year by a major International Energy Company ("IEC") operating in the northern province of Cabo Delgado. The Company has identified significant growth potential in all its operating markets. The start of new contracts in Egypt is expected to have a positive impact on results. A mega development project for the installation of production platforms in offshore Libya is on track to commence mid-2022. Commencement of this project is dependent on stability in the region. Drilling in Cyprus resumed in the last quarter of this year and the order book for the Middle East remains strong for 2022. During the second half of this year the Company signed a strategic alliance agreement with DP World Paramaribo Suriname, with a view to recommencing operations in that country. This region (with Guyana and Trinidad and Tobago) has been identified for potential future growth. The Company continued to secure work in the second half of the year and expects to be awarded new contracts going forward. Industry Outlook In a forecast published by the Economist Intelligence Unit (EIU), global energy consumption will rise by 2.2%, reaching 13,410 million tonnes of oil equivalent. This figure is higher than that recorded in 2019, compensating for the decline in consumption seen during the Pandemic. The oil price stability above USD 70 per barrel during the past six months as well as the recent tensions in the gas market is expected to foster additional investments by the IECs. New projects could translate into significant commercial opportunities for the Company. With contracts and resources in place, the Company is well placed to benefit from the rebound of the Exploration and Production activities in all markets where it operates. MedservRegis plc has started implementing its integration plan resulting in synergies in operations as well as identifying cross-selling opportunities within the core competencies of the Company. Furthermore, the Company is evaluating options and is in discussions to reduce the Company's debt and/or reduce the costs of maintaining such debt. The Company's strategy remains that of sustainable growth and returning to profitability. The transaction with the Regis Group has significantly improved both the net cash and equity to debt position of the Company. 26 December 2021 PG plc At its meeting held earlier today, the Board of Directors of PG p.l.c. (the "Company") resolved to distribute a net interim dividend of €2,250,000 equivalent to €0.0208333 net (€ 0.0320513 gross) per ordinary share. This dividend will be paid on Friday 10 December 2021 to the ordinary shareholders who were on the Company's Register of Members as maintained at the Central Securities Depository at the Malta Stock Exchange as at the close of business on Thursday 2 December 2021. Hili Properties plc The Company refers to its announcement of the 26 October 2021, through which the market was informed that the Malta Financial Services Authority approved the Prospectus, dated 25 October 2021 issued by the Company in respect of the offer of 185,185,185 ordinary shares of a nominal value of €0.20 each in the Company (the "Share Offer"). The Company hereby informs the market that it is extending the Issue Period of the Share Offer until 03 December 2021. As such, the subsequent events set out in the 'Expected Timetable of the Offer' shall be extended as follows: Closing of Issue Period - 3 December 2021 Expected announcement of basis of acceptance - 14 December 2021 Expected dispatch of allocation advices and refunds of unallocated monies, if any - 21 december 2021 Expected admission of the Shares on the MSE - 21 December 2021 Expected commencement of trading of the New Ordinary Shares - 22 December 2021 The Company would like to thank the investing public, including its preferred applicants, for their support of this IPO. BMIT Technologies plc Following the publication of our half-yearly results earlier this year, we are pleased once again to give a positive update on the Group's performance up to Q3-2021. (Quoted figures are unaudited). Revenue for the nine-month period was just over €19 million (Q3-2020: €17.9 million) representing a significant growth of 6.8% YoY. All revenue streams showed growth YoY, with 37% of this growth coming from the sale of cloud services which continued growing substantially YoY by 12%. Expenses amounted to €10.7 million (Q3- 2020: €9.9 million). The increase in costs is mainly the result of more sales activity, which has driven up the cost of goods sold. The cost of payroll also increased as a result of the larger staff complement required to support our increased operations. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) were €8.4 million and improved by 5.5%, compared to €8 million recorded in the same period last year. EBITDA margins remain attractive at 44%. This improvement in results is also reflected in the Profit before Tax level, which reached €6.4 million up to September 2021 (Q3-2020: €6 million). Projects & Investments The last months were characterised by a thorough evaluation of a number of initiatives aimed at growing the business, both locally and internationally. The objective is to ensure that BMIT Technologies taps into the right opportunities, at the appropriate time, whilst keeping in mind our strategic business objectives and our commitments to our shareholders. Our success remains rooted in our ability to harness technology to power our clients' businesses locally and abroad. Another area of focus is our product offering. We are adding new solutions and enhancing existing ones, aimed at advising and delivering the right digital solutions to our customers, as they seek to transform their operations. Activities During the last months we have continued in our public engagement commitments, within fora that are relevant to our business, as well as to the community at large. We have participated in several international gaming events, as well as tech specific activities in Malta. Locally, we are also supporting a number of NGOs in different areas, as part of our commitment to support organisations who provide valuable service to community. BMIT Technologies was awarded the 'Hosting Provider of the Year Award' during the 2021 European Gaming Awards. Announcements