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PG Plc
M&A Activity • Feb 5, 2018
2066_rns_2018-02-05_14f7ce66-a48b-43b3-80b0-f37fbc56f262.pdf
M&A Activity
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COMPANY ANNOUNCEMENT
The following is a Company Announcement issued by PG p.l.c. (C-78333) in terms of Listing Rule 5.164 of the Listing Rules.
Date of Announcement Reference 5 th February 2018 011/2018
ACQUISITION OF PROPERTY
QUOTE
The Board of Directors of PG p.l.c. (the "Company") is pleased to announce that by virtue of a deed in the records of Notary Sam Abela dated 5 February 2018 (the "Deed of Sale"), its recently incorporated fully-owned subsidiary, PG Developments Limited (C-84681) (the "Subsidiary"), acquired the property in Qormi Road, Marsa, commonly known as the "United Macaroni Factory" (the "Property").
The Property, which covers an area of around 3,200 square metres, was acquired from United Macaroni Manufacturers plc (the "Vendor").
The full consideration payable by the Subsidiary for the acquisition of the Property was €3,500,000 (the "Consideration"), of which €1,000,000 was paid on signing of the Deed of Sale. The remaining balance of €2,500,000 shall be paid in tranches within 30 months from the date of the Deed of Sale.
The objective of the Company is for the Subsidiary to develop the site in question into commercial premises, to comprise principally of office space for rent. Development applications are expected to be submitted to the Planning Authority in the near future.
UNQUOTE
Dr. Fransina Abela Company Secretary
5 th February 2018
PG GROUP, HEAD OFFICE, PAMA SHOPPING VILLAGE, VALLETTA ROAD, MOSTA, MST 9017, MALTA
T. (+356) 2349 6100 F. (+356) 2142 1336 E. [email protected]
Company Reg. C78333
