Issue link: https://maltatoday.uberflip.com/i/1495439
3 maltatoday | WEDNESDAY • 22 MARCH 2023 NEWS MATTHEW VELLA VALLETTA property owner Valletta Boutique Living has announced a review of its strategic options, in a bid to expand its core market by raising capital from new financial investors. VBL said the prospective equity trans- actions could result in a change to the shareholding structure. The company said it had started discus- sions with local and international advi- sors to map out potential opportunities. "As part of this process, the company will explore and perform a comprehensive evaluation of strategic options and initia- tives to unlock and maximise shareholder value going forward. No decision to the selection of specific strategic options has been made so far and there is no certainty if and when such decisions will be made in the future," the company said. It said any specific decisions would be announced to the market. "This an- nouncement was made to inform and assure all shareholders that, while the fi- nancing of the current development cycle is secured, the company wishes to begin to review the possible strategies and plans for the next development cycle." VBL's market operation is Valletta, where it owns a considerable stock of re- al estate geared towards the tourism and entertainment market. The company said it will still focus its operations on Valletta and remains involved in the full process of real estate acquisition, integrated real es- tate development, property management, operations, rental and the occasional dis- posal of non-strategic properties. The company listed all of its shares on the Malta Stock Exchange in 2021 and since its IPO, continued to implement its declared expansion along its announced plan. At the time of the IPO, shareholders holding 10% or more of the shares under- took not to transfer their shares for a pe- riod of twenty-four months from the date of listing. Valletta Boutique Living to seek financial investors KURT ANSONE MALTA is home to 738 asylum seekers whose applications for protection have been rejected, according to information ta- bled in parliament. Nigerians and Sudanese form the largest cohorts of failed asylum seekers, with 117 and 103 respectively, followed by Malians and Ivorians with 86 and 78 respectively. The list was tabled by Home Affairs Minis- ter Byron Camilleri in reply to a question by Nationalist MP Graziella Attard Previ. Failed asylum seekers come from 35 differ- ent countries – 26 in Africa and nine in Asia, including the Middle East – and some have been in Malta since 2004. Two people are indicated as having no na- tionality. Camilleri said failed asylum seekers have a police document that is periodically extend- ed. People who apply for protection are evalu- ated by a special board that can grant them refugee status or temporary protection as a result of the situation in their country of or- igin. Failed asylum seekers have a right to appeal and if this does not go in their favour they will have to be deported. However, repatriating failed asylum seekers depends on their home country accepting them back, which can be a complicated pro- cess in the absence of diplomatic relations and direct flights between the countries. More than 700 failed asylum seekers live in Malta, some since 2004 Information tabled in parliament shows that 738 failed asylum seekers reside in Malta