GO plc – Re-organisation of Corporate Structure

GO plc announced that the Board of Directors of the Company has been exploring options that would maximize value for itsshareholders in relation to the portfolio of immovable property owned by its subsidiary MaltaProperties Company Limited. The property portfolio owned by Malta Properties Company Limited andits subsidiary companies, consists of eleven immovable properties valued at approximately €50 million.

The GO Group has already, in order to free value and bring cost savings, been pursuing a strategy ofminimizing property used as office space and for technical installations. Over the past years the Grouphas centralised offices, freeing various buildings from office use and has been working on another phasewhereby it aims to free or limit the extent to which property is committed with technology. The Boardof Directors of the Company is currently analyzing options potentially available to restructure the Groupin a manner that would allow thenecessary focus and expertise to be brought to bear on the portfolioof immovable property. One option underconsideration is to “spin-off” (pro-rata to the then existingshareholders of GO p.l.c.) the subsidiary Malta Properties Limited with its property portfolio. It isbelieved that the proposed “spin-off”, which would be subject to the approval of GO’s shareholders ingeneral meeting and to any applicable regulatory approval, would serve to enhance shareholder value.

To view the official company announcement, click here.