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5 NEWS 19.5.2022 LASSAD Ben Dhiab, has been appointed chairman of go plc with immediate effect. Ben Dhiab, a Tunisian nation- al, has been acting as director on the board of the company since May 2019. He has more than 30 years of experience in the telecommuni- cations sector and has held ma- jor roles in engineering, business strategy and administration, financial and human resource management and implemen- tation of telecommunications solutions. Commenting on his appoint- ment, Ben Dhiab said he was very proud to assume this new position at GO plc. "I have worked alongside the Board for the past three years and am confident that togeth- er we can continue to steer this company to even greater success that will continue to yield both returns for our shareholders, as well as continued value for our esteemed clients," he said. Over the years Ben Dhiab has held various responsibili- ties within the Tunisia Telecom Group and has recently been appointed Chairman and Chief Executive Officer of Tunisie Tel- ecom. He is a graduate engineer in telecommunications from the Higher School of Posts and Tel- ecommunications of Tunis and has a Masters Degree in Physical Sciences from the University of Sciences of Monastir. Nikhil Patil, CEO of GO plc welcomed Dhiab's appointment as chairman. "We are excited to continue living our purpose of driving a digital Malta where no one is left behind, as one team," he said. "Mr Dhiab brings with him a wealth of experience that am sure will contribute to our con- tinued success." GO plc appoints new chairman IZI Finance plc celebrated the listing of its €30,000,000, 4.25% unsecured bond listing, with the traditional bell ringing ceremony event held at the Malta Stock Ex- change. In his welcome speech, Mal- ta Stock Exchange Executive Chairman, Joseph Portelli, con- gratulated IZI Finance plc on their success of their bond issue noting how a string of compa- nies have sought to raise capital through the bond market and eventual listing on the MSE. He welcomed the fact that a company representing the gam- ing industry has chosen the bond market to raise capital. In a short speech at the event, Franco De Gabriele, Executive Director of IZI Finance and Chief Commercial Officer of IZI Group plc, mentioned how 2021 was a defining year for the Group, having successfully been awarded concessions to operate what essentially are two of the most important land-based gam- ing operations in Malta, namely the Dragonara Casino and the National Lottery of Malta. De Gabriele also stressed on the strategic importance of the next 10 years for the IZI Group. e Group has an investment plan of circa €135 million over the next 10 years, the vast ma- jority of which is the investment in the concession fee of the Na- tional Lottery of €105 million to be paid to the Government of Malta. Another €30 million will be in- vested over the next 24 months to effectively fulfil the capital in- vestment obligations of the com- pany in our core businesses. e IZI Finance plc bond issue was supported by Rizzo Farrugia & Co Stockbrokers (Sponsor & Co-Manager), Camilleri Preziosi (Legal Counsel), Bank of Valletta plc (Registrar and Co-Manager) and Grant ornton (Financial Auditors). PAUL COCKS MALTA International Airport plc (MIA) re- ported a profit before tax of €1.2 million for Q1 2022. e company published the financial per- formance of the Group for the first quarter of the year. MIA turned around the loss of €3.1 million it had registered in Q1 2021 to register a prof- it before tax of €1.2 million for Q1 2022. e first quarter of 2022 was off to a slug- gish start, as the tightening of travel restric- tions at the end of 2021 had repercussions on consumer confidence which extended well into the new year. Passenger numbers, in fact, remained 44.1 per cent below pre-pandemic levels. Despite the slow start, Malta Internation- al Airport's continued caution in relation to cash management, allowed the Group to close the quarter with a revenue of €10.8 mil- lion. is total was just over double the reve- nue the Group had generated in Q1 2021, when traffic for the first three months of the year had amounted to just 98,493 passenger movements. e increase of 26 per cent in staff costs over Q1 2021 was driven by several factors includ- ing the lifting of a hiring freeze, which had been implemented at the onset of the pan- demic, and the discontinuation of staff pay cuts which were in effect between Febru- ary and April 2021. e Group's operating expenses, on the other hand, increased by 25 per cent as a result of a busier operation in comparison with the first quarter of 2021. e Group's capital expenditure for the first quarter of 2022, which includes part of the in- vestment in the complete overhaul of the air- port Food Court, amounted to €1.2 million. is project, the first phase of which was concluded last week, is expected to strength- en the retail and property segment, which is an important contributor to the Group's rev- enues. Earlier this month, Malta International Air- port plc reported that April's recovery was the strongest the Company had registered in the two years since the outbreak of the pandemic. is, together with the launch of a summer schedule offering solid connectivity, bodes well for the coming months, which will see Malta International Airport plc continue to work towards a recovery that benefits all stakeholders as it sets into mo- tion a number of large-scale projects." IZI Finance plc celebrates bond listing with MSE bell ringing ceremony Lassad Ben Dhiab MIA records €1.2m profit before tax in Q1 2022

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