MIDI Plc — M&A Activity 2020

Dec 10, 2020

Company Announcement

The following is a Company Announcement issued by MIDI p.l.c. ("MIDI" or the "Company") pursuant to the Listing Rules issued by the Listing Authority.

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Notification of merger of subsidiaries

The Company announces that as part of a corporate restructuring exercise, two of its subsidiary companies, Tigné Point Marketing Limited, a company duly incorporated under the Laws of Malta, bearing company registration number C30073 and having its registered address at North Shore, Manoel Island, L/O, Gzira, Malta (hereinafter "Tigné Point Marketing Limited") and Tigné Contracting Limited, a company duly incorporated under the Laws of Malta, bearing company registration number C28438 and having its registered address at North Shore, Manoel Island, Gzira, Malta (hereinafter "Tigné Contracting Limited") are to be amalgamated by a merger by acquisition, in terms of the Companies Act (Chapter 386 of the Laws of Malta).

The proposed merger by acquisition shall be preceded by a transfer by the Company of its entire shareholding in Tigné Point Marketing Limited to Tigné Contracting Limited.

Upon the proposed merger by acquisition taking effect, Tigné Contracting Limited as the acquiring company shall succeed to all the assets, rights, liabilities and obligations of Tigné Point Marketing Limited, which in turn shall cease to exist.

The proposed merger by acquisition shall not have any effect on the Company's shareholding in Tigné Contracting Limited and the Company shall continue to hold the majority of the Ordinary shares in Tigné Contracting Limited.

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Catherine Formosa Company Secretary

10 December 2020