The Directors of the Company are:

Mr. Albert Mizzi joined the family business Alf. Mizzi & Sons Ltd in 1946 and was Chairman for several years. In the 1960s he was involved in private banking and appointed Director of Medport. Albert Mizzi was instrumental in establishing Malta’s most important parastatal businesses amongst which: Air Malta, Sea Malta, Medserv, Mediterranean Insurance Brokers and Middlesea Insurance. During his business career, Albert Mizzi has built up extensive interests in trade, tourism, real estate development (both local and overseas), and industry, with involvement in diverse industrial ventures. At present he occupies the post of Chairman of Plaza Centres p.l.c., Mizzi Associated Enterprises Ltd, Kemmuna Ltd, Mellieha Bay Hotel Ltd, Consolidated Biscuit Company Ltd and Premium Realty Ltd. He has also taken an active part in local commercial bodies such as the Chamber of Commerce, the Federation of Industries, the Malta Employers’ Association and the Malta Trade Fair Corporation.

Albert Mizzi’s greatest and longest-standing achievement to-date is undoubtedly Air Malta – an airline which he spearheaded in April 1973. He served as Executive Chairman of Air Malta for 19 years. In 1992 Albert Mizzi was given the task of chairing the Malta Council for Economic Development (a consultative body including employer, union and GOM representatives) of which he served as Chairman up to September 1999. Mr. Mizzi’s latest prestigious appointment is that of non-executive Chairman of HSBC Bank Malta p.l.c. since June 1999. In 1992 he was elected Fellow of the Chartered Institute of Transport (U.K.) and in 1993 he was decorated Member of the National Order of Merit by GOM. In 2005 he was decorated by Her Majesty the Queen and awarded the OBE, Order of the British Empire.

Mr Benjamin Muscat is the Chief Executive Officer of the Company. A Chartered Certified Accountant by profession. Mr. Muscat's working experience spans 20 years of senior management positions covering switchgear manufacturing with a local international company, food processing and manufacturing with a subsidiary of the Unilever Group, beer and beverages production and fast food franchising with a major local business group representing Carlsberg, Pepsi Cola, Burger King, Pizza Hut amongst others and lately as an executive director with a local hospitality and construction business group in charge of business development and financial strategy.

Corporate Governance

MIDI plc supports the Code of Principles of Good Corporate Governance (the “Code”) originally issued by the Malta Stock Exchange which now forms part of the Listing Rules.

The Board of Directors take all measures necessary in order for the Company to comply with the requirements of the Code to the extent that these are considered appropriate and complimentary to the size, nature and operations of the Company and its listed debt securities.

Executive Committee

The Board delegates authority and accountability for the Company to an Executive Committee, currently composed of the Chairman Mr. Albert Mizzi & Mr. Mario C. Grech as Directors, together with the Chief Executive Officer (CEO) Mr. Benjamin Muscat.  The Executive Committee supervises the management of the Company, to ensure the attainment of its strategy and objectives. The Executive Committee is responsible to supervise the process of awarding contracts. In particular it is responsible for assisting and directing the CEO in negotiations with contractors, suppliers and service providers and is ultimately responsible for the award of such tenders.  Often matters within the terms of reference of the Executive Committee have been referred directly to the Board.

At present there is no Remuneration Committee since the Company’s policy has always been that the Directors should not receive any remuneration. This policy reflected the fact that the Directors were, generally speaking, appointees and representatives of the individual shareholders who appointed them, however, it is the Board’s intention to set this up following the Company’s next Annual General Meeting.

The Audit Committee consists of Mr. Paul Bonello, who is independent and competent in accounting, Mr. Joseph A. Gasan and Mr. Tonio Depasquale, who chairs the Committee. The Audit Committee has the task to ensure that any potential conflicts of interest are resolved in the best interests of the Group. The Audit Committee is also responsible for protecting the interests of the Company`s shareholders and assisting the Directors in conducting their role effectively so that the Company’s decision-making capability and the reliability of its statutory reporting and financial results are maintained at a high level at all times.

Statutory Auditors

The statutory auditors of the company are:

PricewaterhouseCoopers
167, Merchants Street,
Valletta, VLT 1174, Malta.

PricewaterhouseCoopers is a firm of Certified Public Accountants holding a practicing certificate to act as auditors in terms of the Accountancy Profession Act, 1979 (Cap. 281 of the Laws of Malta).

Formed between the partners of TBA Periti and of Architecture Project, both local practices, to provide consultancy services relating to the Manoel Island and Tigné Point Development Project.

TBA Periti (originally TBA Structural Engineers) is a professional Partnership formed in 1988, primarily as a structural engineering consultancy, offering its services to local architectural and civil engineering practices, in the solution of specific civil and structural engineering problems. It subsequently broadened its activities in the areas of architectural and interior design, rehabilitation of heritage buildings, and assessment and repair of structures.

Architecture Project was set up in May 1991 to provide a full range of architectural services with a special focus on restoration and design consultancy. The main interests of the firm are a primary concern with context, and the reciprocal relationship between the finished work and its physical and cultural environment; research in energy efficiency, innovative proposals utilising new technology, materials and construction methodology; and the rehabilitation of historic buildings and their absorption into the contemporary context.

MIDI p.l.c. has engaged the services of a team of specialists led by Danish engineering consultancy firm, Carl Bro Group to cater for harbour modelling studies for Manoel Island.

Carl Bro is an international consulting engineering company, employing more than 2100 people spread across more than 80 countries in four continents and with an annual turnover in excess of US$180 million. Over the past 40 years, Carl Bro Group has carried out projects in more than 100 countries worldwide, supplying intelligent solutions that require a broad spectrum of specialist skills in marine and mechanical engineering.

In 2001, Carl Bro concluded the virtual modelling of Marsamxett Harbour which led to recommendations on the eventual design of breakwater and other marine related works to be carried out at Manoel Island.

Colliers CRE have been appointed the retail leasing and management consultants for The Point shopping mall at Tigné Point.

Colliers CRE is one of the UK’s top ten real estate advisory organisations. It employs over 800 people in 20 offices throughout the UK, Ireland and Spain. Colliers CRE is an independent member of the worldwide Colliers International Organisation, one of the world’s largest real estate consultancy firms, with over 9,000 staff based in 248 offices in 51 countries.

Colliers CRE is involved in tenant mix planning, management strategy, leasing strategy, as well as the pre and post launch marketing. They are also directly involved, in conjunction with local estate agents, in the leasing of the individual premises within The Point.

Although originally associated with the automotive sector, the Group has evolved and today is combining advanced creations and innovative styling based on a mastery of architectonic building technique, which are then employed in various other sectors of design. Purity of line and distinction in décor are two values to which Pininfarina Group subscribes. Many are those who had the opportunity to have first hand experience of Pininfarina designs. Apart from their beauty of their designs, a distinct methodology and a precise recognisable dimension are the constant hallmarks of Pininfarina designers.