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Main Street Complex Plc Regulatory Filings 2021
2065_rns_2021-11-17_788312f9-2428-4b48-a1d1-6d61609786af.pdf
Regulatory Filings
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COMPANY ANNOUNCEMENT
Main Street Complex p.l.c.
INFORMATION TO THE MARKET
| Date of Announcement | 17 November, 2021 |
|---|---|
| Reference No: | 32/2021 |
| Listing Rule | 5.16 |
QUOTE
Reference is made to the company announcement published on 2nd June, 2021 (MSC29), in which the Board of Directors of Main Street Complex p.l.c. (the "Company") announced that United Department Stores Limited (C-39811), at the time franchisee for the Debenhams brand in Malta, had served the Company with notice of termination of the concession relative to the largest store (spread over three floors) in Main Street Complex. At the time it was indicated that discussions were underway between the respective management teams of the Company and United Department Stores Limited with respect to the terms of said termination and ensuing vacating of the store. Furthermore, the Company had indicated that the process for identifying a suitable alternative tenant for the operation of the store in question was underway.
The Company is pleased to announce that it has reached agreement with a new tenant for the lease of the ground floor and first floor spaces (562 square metres in aggregate) previously occupied by the Debenhams franchisee – 360 square metres on the third floor remain vacant and available for rent. The lease is for a term of ten years (subject to possible early termination following the lapse of the first year), as from the 1st April, 2022. The tenant is the holder of the Lindex franchise in Malta, and the store shall be used for the retail sale of Lindex women's, kids' and babies' collections as well as accessories and cosmetics. The Company is delighted to complement the existing array of brands featured within the Main Street Complex with the Lindex brand and looks forward to its new tenant's commencement of operations. In the meantime, the Company's management team will continue in its efforts to conclude agreements with suitable occupants for the remaining vacant parts of the Complex.
UNQUOTE
By order of the Board.
Dr Malcolm Falzon Company Secretary