Company Announcements – January 2007

International Hotel Investments plc

– 

The Company held an Extraordinary General Meeting on 31st January 2007 when the shareholders approved all the resolutions on the Agenda. Please click on the above heading to view the official announcement.

– 

Medserv plc

– 

Medserv announced that it has entered into a Memorandum of Understanding (“MoU”), subject to contract and satisfactory documentation, with Misurata Free Zone, an authority established by Libyan GPC Decree 32/2006 in the business of owning and operating the Misurata Free Zone in Libya. Please click on the heading above to view the principal terms of the MoU.

– 

Malta International Airport

– 

The Board of Directors of MIA plc shall be meeting on Thursday 1st March 2007 to consider and approve the financial results for the year ended 31st December 2006 and also consider the declaration of a dividend to be recommended to the Annual General Meeting.

Lombard Bank plc

– 

Mr Stefano Loffredi has been appointed Director to the Board of Directors of the Bank with effect from 4th January 2007. Mr Loffredi has not occupied any directorship in any other Listed Company at any time in the previous five years from today. Please click on the above heading to view the official announcement.

Suncrest Hotels plc

– 

Following the Board of Directors meeting on 18th January 2007, the Preliminary Profit Statement for the year ended 31st October 2006 was approved. The turnover for the year was Lm2.27 million, down from Lm2.65 million for 2005. The loss for the year before taxation was Lm209,443 compared to a loss of Lm196,624 in 2005. Suncrest also experienced a drop of 16% in occupancy in 2006. The hotel’s average room rate however increased from Lm10.43 in 2005 to Lm11.80 in 2006. The deterioration in the hotel’s gross operating profit is mainly attributable to the fall in revenue and higher operating costs per room night. Meanwhile, work on refurbishing the hotel has started.

Please click on the above heading to view the original announcement together with the more detailed financial statement.

–  

HSBC Bank Malta plc — Bond Issue

HSBC Bond Issue oversubscribed within two hours from opening.

— 

HSBC announced that it published a prospectus dated 10th January 2007 in respect of an issue of Lm20,000,000 4.6% Bonds or Eur46,600,000 4.6% Bonds of a nominal value of Lm100/Eur100 per Bond issued at par subject to an Over-allotment Option not exceeding in aggregate Lm5,000,000 or Eur11,700,000 in value in any one or a combination of the Bonds. Please contact our offices on freephone number 80072206 for further details.

International Hotel Investments plc

– 

The following resolutions will be presented for consideration at an Extraordinary General Meeting of IHI plc (“the Company”) to be held on 31st January 2007:

– 

1.   To increase the Authorised Share Capital of the Company and to re-designate the Authorised Share Capital into two classes.

– 

2.   To authorise the increase in the Issued Share Capital of the Company by the allocation of new shares and to authorise the Directors to issue and allot new shares without first offering same to the existing shareholders in proportion to their current holdings.

 –

3.   To capitalise an amount not exceeding Eur5,000,000 from revaluation reserves (“Capitalisation”) and issue such number of fully paid up Bonus Shares of a nominal value of Eur1 each equivalent to the amount of the Capitalisation. The Bonus Shares will be issued and allotted in a ratio of 1 Bonus Share for every 6 ordinary shares.

 –

4.   To effect amendments to the Memorandum and Articles of Association of the Company.

 –

5.   To increase the amount of fees and remuneration to the Directors of the Company.

– 

Please click on the above heading to view the detailed official announcement.

Middlesea Insurance plc

Middlesea Insurance plc has subscribed for its 89.98% of the issued share capital equivalent to EUR3,599,200 consisting of shares of a nominal value of EUR0.01 each fully paid up from an issue of EUR4,000,000 of nominal value in Progress Assicurazioni SpA. These shares were allotted on 29th December 2006 to existing shareholders on a pro-rata basis. The Company has thus retained its shareholding in this unlisted Italian Company at the 89.98% level previously held. The Company also announced that as from 1st January 2007 Mr Frank Xerri de Caro ceased to be a director of Middlesea Insurance plc.