Issue link: https://maltatoday.uberflip.com/i/844299
44 maltatoday, SUNDAY, 2 JULY 2017 Events APS Bank is the latest member of the Malta Stock Exchange, a status which gives the bank di- rect access to the MSE's trading platforms as well as the ability to offer full- service brokerage. At a brief ceremony held last week, MSE Chairman Joseph Portelli welcomed the APS Bank delegation and spoke of the progress marking the MSE's devel- opment in recent years. APS Bank CEO Marcel Cassar thanked Portelli and his team for their support throughout the membership process. Noting that the bank has been offering trading and intermediation services for a number of years, he added that membership "feels like a homecom- ing for a bank which was formed over a century ago to provide channels of savings and investment for the community." The event also included the traditional ringing of the exchange bell and was followed by drinks hosted by the chairman. Farsons' shareholders authorise property spin-off Nesquik gives children a time travel experience at Fort St Elmo APS Bank becomes member of the Malta Stock Exchange From left to right: Andrew Muscat, Officer (Investment Management), David Lanzon, Portfolio Manager (Investment Management), Marvin Farrugia, Senior Manager (Asset Liability Management), Noel McCarthy, Chief Financial Officer, Alison Vella, Senior Officer (Investment Management), Marcel Cassar, Chief Executive Officer, Kenneth Genovese, Manager (Private Clients), Graziella Bray, Manager (Compliance), Larken Vella, Officer (Investment Management), David Galea, Portfolio Manager (Investment Management) The 70th Annual General Meet- ing of Simonds Farsons Cisk plc approved a resolution that per- mits the Board to implement, as it deems necessary or expedient, the spin-off of a number of property assets into a separately listed pub- lic limited company. The spin-off will be effected by way of a distribution of its share- holding in the Group's property company, Trident Estates Ltd, to shareholders pro rata to the shares held by them in Simonds Farsons Cisk plc at the time of issue. Tri- dent Estates Ltd intends to file an application with the Listing Au- thority for admission to listing of its shares on the Malta Stock Ex- change. Farsons Chairman, Louis A Farrugia, explained that over the years, the Group acquired a signif- icant base of real estate. "Although most of our property portfolio is utilised within the Group's core brewing and beverage operations, a number of property interests of- fer scope for re-development. As previously announced, our Board believes it would therefore be ad- vantageous to separate a portion of the Group's property portfolio into a new structure." Farrugia said that the board had commissioned the revaluation of the properties forming part of the spin-off by a firm of professional architects to reflect current market values. This revaluation resulted in a surplus net of deferred tax of €4.6 million, credited to reserves, and €0.4 million included in the profit for the year. During the meeting, the com- pany also gave an account of the satisfactory results for the finan- cial year ending 31 January 2017. During the last five years, the mar- ket capitalisation of Farsons Group has increased significantly. Farrugia explained that a positive year-on-year performance enabled Farsons to pursue an aggressive capital expenditure programme, including the recently inaugurated €27 million Beer Packaging Facil- ity, and several other projects. The Board is also evaluating the cur- rent debt structure for the group including the possibility to redeem the existing Bonds and issue new Bonds over the coming months. In reviewing the performance of the Group's business and brands, Farsons Group Chief Execu- tive Norman Aquilina said: "The Group registered a record profit for the year of €12 million, ex- ceeding last year's record perfor- mance by 8%. "Whilst continuing to seek growth opportunities in our do- mestic market, we will maintain a strong focus on innovating and internationalising our business further to realise our aspirations of becoming a regional brewery." The Annual General Meeting approved the Board's recom- mendation of a final dividend of €2.4 million, bringing the total declared dividend for the year to €3.4 million. Around 200 children, between 6 and 12 years old, participated in the Nesquik Time Travel experi- ence held at Fort St Elmo in Val- letta on Sunday 11th June. Organised by Nestlé Malta, the experience provided an opportu- nity for Nesquik Club members to learn more about military his- tory, the period of the Knights of St John and World War II while touring different parts of Fort St Elmo. In addition to the educational design of the event, this year, im- portance was given to active play. A group of MCAST sport students organised a number of different game stations, held in the differ- ent open spaces within the Fort, to get kids moving and active. A large outdoor area leading into Fort St Elmo was transformed into a Nesquik village, immersing children and parents in the world of Nesquik educational activities. Teams from Heritage Malta were guiding the children around dif- ferent areas of the Fort including the history museum. An audio- visual show and a puppet show were also added into the pro- gramme as tools to capture the children's imagination and im- merse them in the experience. The Nesquik annual educational events, now in their seventh year, form part of the Nestlé corporate ethos to provide children with safe and engaging opportunities to learn about their surroundings and to live healthy lifestyles. Commenting about the seventh Nesquik annual event, Sarah Kerr Cumbo, Nestlé Malta Product Manager said: "This was our first experience working with Heritage Malta at Fort St Elmo and we are very satisfied with the feedback received from parents and chil- dren. The success of this year's event encourages us to add more to the next educational activ- ity planned for 2018. Our team is bubbling with new energy and ideas to deliver more exciting, in- teractive educational experiences to our Nesquik Club members. The Nesquik events are designed to contribute towards a more re- sponsible generation as we seek to impart important values to Nes- quik Club members." For more information on Nes- quik and Nestlé products, visit www.nestle.com.mt Nesquik club members enjoyed a morning of fun, educational activities and time travel into history at Fort St Elmo as part of the club's annual educational event calendar.