MIDI p.l.c. (MIDI) is a public limited company incorporated, registered, and operating in Malta under the Companies Act, with registration number (C 15836) and whose registered office is at North Shore, Manoel Island, limits of G?ira, G?R 3016, Malta. MIDI is domiciled in Malta.
The authorised share capital of the Company €90,000,000 divided into 450,000,000 Ordinary Shares having a nominal value of €0.20 each. The issued share capital of the Company is of €42,831,984 divided into 214,159,922 Ordinary Shares having a nominal value of twenty euro cents (€0.20) each which are subscribed and paid up.
MIDI currently has in excess of 730 shareholders and the registered shareholders with 5% or more of the share capital of the Company, are:
| Alf. Mizzi & Sons Ltd. |
14.21% |
| MSV Life p.l.c. |
12.55% |
| Fortress Developments Limited |
11.84% |
| Gee Five Limited |
9.06% |
| Bank of Valletta p.l.c. |
8.91% |
| Investors Limited |
7.17% |
| Vassallo Builders Group Limited |
5.61% |
The Company forms part of a Group which is composed of MIDI. and its wholly owned subsidiary companies, which are all incorporated, registered and operating in Malta, namely:
- Tigné Contracting Limited (C 28438) (“TCL”) was established on 10 July 2001. TCL has an authorised share capital of € 116,468.67 divided into 50,000 ordinary shares of €2.329373 each and an issued share capital of €23,293.73 divided into 10,000 ordinary shares of €2.329373 each, 20% paid up. TCL serves as the turnkey company through which almost all construction and related costs except for selling and marketing are accounted for.
- Tigné Point Marketing Limited (C 30073) (“TPML”) was established on 7 August 2002. It has an authorised share capital of € 116,468.67 divided into 50,000 ordinary shares of €2.329373 each and an issued share capital of €23,293.73 divided into 10,000 ordinary shares of €2.329373 each, 20% paid up. TPML handles all marketing (including advertising and PR campaigns) and sales activities of the Company. It represents the Company’s main point of contact with customers. TPML was set up in order for the Company to have its own specialised selling and marketing team.
- Tigné Mall Ltd (C 35139) (“TML”) was established on 1 December 2004. It has an authorised share capital of €23,293,733.98 divided into 10,000,000 ordinary shares of €2.329373 each and an issued share capital of €7,313,066.55 divided into 3,139,500 ordinary shares of €2.329373 each, fully paid up. TML was set up to build and operate a retail mall complex, and ancillary facilities at Tigné Point. Building works were completed and the mall commenced operations in March 2010 under the name “The Point”.
MIDI entered into a joint venture with Siemens S.p.A through a company known as Solutions & Infrastructure Services Limited (C 38866) (“SIS”). SIS was established on 5 June 2006 and is regulated by its memorandum and articles of association and a joint venture agreement between MIDI and Siemens S.p.A., with each having a 50% stake in SIS. The purpose of the joint venture, inter alia, is that of supplying, installing and operating technological products, systems, solutions, plants and services related to the Project.
The Company further holds a 10% stake in Manoel Island Yacht Yard Limited (C 48138) (“MIYY”) which was established on 1 December 2009. MIYY was granted an emphyteutical concession from GOM for a period of thirty (30) years to operate the ship repair yard situated at Manoel Island.
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