Issue link: https://maltatoday.uberflip.com/i/221559
12 BUSINESS & FINANCE maltatoday, WEDNESDAY, 4 DECEMBER 2013 CEO of Dubai government firm appointed director at IHI Ziad Makkawi has been appointed as non-executive director of International Hotel Investments plc with effect from 28 November 2013, replacing Andy Watson who has resigned. Makkawi is the Chief Executive Officer of Istithmar World, the investment arm of Dubai World. He has over 25 years of experience in leadership positions at international and regional firms where he served as CEO, chairman and board member. Prior to being appointed CEO of Istithmar World, Makkawi was the founder, chairman and CEO of Algebra Capital, a DIFC-based asset management firm he started, focused on MENA, which was later sold to global asset manager Franklin Templeton. In addition to his role as CEO, he was also responsible for the firm's private equity business. Makkawi served, prior to Algebra, as the CEO of Dubai Bank where he spearheaded the bank's involvement in investment banking; asset management and Islamic banking in local and crossborder transactions. Prior to Dubai Bank, Makkawi was the executive managing director of Shuaa Capital, a UAE-based investment banking institution where he also acted as chief investment officer for the firm's asset management products. He started his career with JP Morgan in New York, where he rose to the rank of vice-president. He also worked in Geneva with Elf Aquitaine, and later moved back to the Middle East to cofound two investment banks Lebanon Invest, and then Middle-East Capital Group. Makkawi holds a Master's degree in International Affairs from Columbia University, an MBA in Finance from NYU Stern School of Management and a BA from Rice University. Makkawi is a French citizen and resides at Villa E71 Emirates Hills, Dubai, United Arab Emirates. Inbound tourism registers increase in first-time visitors Local ISO 9001 certification specialists STEP have just unveiled their brand new website, found on http://www.iso9001malta.com/. The new STEP website launch coincides with a diverse and far reaching advertising campaign which sees STEP's promotional messaging displayed on prominent news site, print publications and roadside billboards all over the Maltese Islands. The website brings a new look to the fore, complete with a new colour branding, accurately portraying STEP for what it is: a young, dynamic and energetic company, making rapid growth and gains in the certification industry. The new STEP website is database driven and is coded in a smart combination of HTML5 and CSS 3. Using JQuery for animations, the site is also very mobile friendly. The web project was spearheaded and developed internally at STEP and was produced in tandem with Cybermax Creations, so as to retain total control and ownership of the site both now and in future, as well as ensuring that every section of the site is well know to STEP team members. In a statement, STEP co-founder and managing director Luke Desira said that a more user friendly website was needed, "which was the primary motivator behind the new website project. Personally, my favourite aspect of the new STEP site is the slider as it allows us to position ourselves as leading ISO 9001 specialists, using diverse messaging according to the demand of the moment". In addition, Desira said that the rest of the team is highly satisfied with the 'Who We Are' page which introduces each member of the growing STEP team with a short bio and a photo of them on their favourite steps around the island. STEP is a young, rapidly expanding company incorporated in Malta and specialising in ISO 9001 certification and internal audits. Since starting operations, STEP have helped companies and business in all kinds of industries achieve ISO certifications and streamline their business processes to increase efficiency. Recently, the STEP team celebrated a milestone of helping over 25 clients towards ISO 9001 certification in less than one year. Visit the new STEP site on http://www.iso9001malta.com/. Ziad Makkawi COMPANY ANNOUNCEMENTS Go plc The Company announces that Forthnet SA ('Forthnet') has on 2 December issued an announcement in connection with the Prospectus for the share capital increase of the Company with pre-emption rights in favour of the existing shareholders. The company announcement issued by Forthnet is being reproduced below as part of this Company announcement. Forthnet S.A. (hereinafter the "Company" or "Forthnet") announces, according to the EU Regulation 809/2004 and the Law 3401/2005, as in force, that the Prospectus for the share capital increase of the Company with pre-emption rights in favor of the existing shareholders and the trading of new shares in the Athens Stock Exchange resolved by the Extraordinary General Meeting of its Shareholders dated 23.08.2012, which was approved by the Capital Market Commission (hereinafter "CMC") on 29.11.2013, will be available to investing public as of 02.12.2013. Specifically, the above Extraordinary General Meeting of Shareholders resolved, inter alia, the Company's share capital increase up to the amount of €29.143.372,50 with the issue of up to 97.144.575 new common registered dematerialized shares with a nominal value of €0,30 each (hereinafter the "New Shares"), payable in cash and with pre-emption rights in favor of the existing shareholders at a ratio of 15 new shares for 2 existing shares. The authorized by the Extraordinary General Meeting of Shareholders of 23.08.2012 Board of Directors at its meeting on 21.08.2013 determined the issue price of the New Shares at € 0,30 (hereinafter the "Issue Price") for each New Share, which, according to the Extraordinary General Meeting of Shareholders of 23.08.2012 may be higher than the market price of the existing shares at the ex-rights date. The Company's Board of Directors of 23/11/2013, as authorized by the Extraordinary General Meeting of Shareholders of 23.08.2012, resolved that the beneficiaries of preemption rights, after having fully exercised their pre- emption rights, will be entitled to an oversubscription right, as referred in detail in the approved by the CMC on 29.11.2013 Prospectus. In total up to 97.144.575 new common registered shares will be issued with a nominal value of € 0,30 at the Issue Price of € 0,30 for each new share, while it is expected that the raised funds will amount up to €29.143.372,50. The shares to be issued as a result of the share capital increase payable in cash shall be admitted for trading to the Athens Stock Exchange, following relevant application, in the "Under Surveillance" section. For the admission for trading of the new shares a prior approval by the A.S.E. is required. All information regarding the procedure for the subscription and exercise of the pre-emption rights by the investors in relation to the share capital increase is available in chapters 4.7.2 «Procedure for the Exercise of Pre-emption Rights» and 4.7.3 «Oversubscription Right» of the approved by the CMC Prospectus. Mediterranean Bank Increase in Issued Share Capital On 27 November 2013, the Bank's shareholders resolved to increase the Bank's share capital by €9.8 million. As at 28 November 2013, the Bank's issued share capital was increased by €9,800,000 ordinary A shares divided into nine million eight hundred thousand shares, each with a nominal value of one Euro (€1), through a cash contribution, thereby increasing the Bank's issued share capital from € 88,250,107 to € 98,050,107. Condensed Interim Financial Statements In a meeting of 27 November 2013, the Board of Directors of Mediterranean Bank plc approved the attached Condensed Interim Financial Statements for the six month period ended 30 September 2013, which are also available for viewing and download on the Bank's website at www.medbank.com.mt.