Malta Properties Company plc – Sliema Promise of Sale Update

Reference is made to an announcement issued by MPC on the 31 January 2017 (the “Original Announcement”) whereby the Company announced that, by virtue of an agreement dated 31 January 2017, SLM Property Company Limited, a company registered in Malta bearing registration number C 54590 and with registered office at Triq Emvin Cremona, Floriana FRN 1281, Malta (“SLM”), being a wholly owned subsidiary of MPC, entered into a promise of sale agreement with Toncam Properties Limited, a company registered in Malta bearing registration number C 20016 and with registered office at Il-Maxtura, Madliena Road, Madliena, Swieqi SWQ 1017, Malta (“Toncam”). By virtue of the said promise of sale, SLM promised and bound itself to sell and transfer to Toncam who bound itself to purchase and acquire the complex without an official number known as the Sliema Old Exchange which is built on a divided portion of land situated in Triq Parisio corner with Triq Moroni, Sliema. As stated in the Original Announcement, the promise of sale agreement was valid and effective up to the 31 January 2018.

MPC hereby announces that Toncam and SLM have today entered into an agreement to extend the promise of sale agreement to 1 August 2018. Notary Malcolm Mangion was appointed by SLM and Toncam to register this agreement with the Inland Revenue Department. 

To view the official announcement, click here.