New Share Offer – VBL plc

VBL plc has announced the issuance of 35,714,286 ordinary shares of a nominal value of €0.20 per share and if fully subscribed, up to an additional of 35,714,286 ordinary shares being sold by the selling shareholders with the same nominal value, which will be offered at a price of €0.28 per share.

VBL Group is involved in the real estate industry with a niche focus on identifying, acquiring, developing and managing real estate in Valletta. The Group’s strategy involves creating a diverse portfolio of operational and development assets, consisting of hospitality (accomodation) assets, for both short and long-term lets and commercial real estate, consisting of retail, entertainment and office space.

The Company currently holds 100% of the issued share capital in the following operating subsidiaries:

VREM Ltd

This company is entrusted with the hospitality and property operations within the Group. It manages and operates the assets of the Company and provides property management services for third-parties.

Silver Horse Block Ltd

This company is the dedicated project development of a large mixed-use development project in Valletta, known as the ‘Silver Horse Phase 2’ project.

Casa Rooms Ltd

This is a property management business which was acquired in January 2021. It is  a recognised hospitality services provider in Malta with 115 properties under management, 30 of which are situated in Valletta.

Jesmond Mizzi Financial Advisors Ltd is participating in this issue as one of the authorized financial intermediaries and is currently accepting applications for this share offer. The minimum subscription amount for each application has been set at €5000 with multiples of 100 shares for existing Jesmond Mizzi Financial Advisors Ltd clients. Whilst the minimum amount set for new clients is €20,000.

Reasons for Share offer and Use of Proceeds

The Directors believe that the New Shares Offer and, if applicable, the Sale Shares Offer will:

1. enhance the Company’s public profile and status with existing and potential clients;
2. provide access to capital markets to aid future growth, if required;
3. create a liquid market in the Shares; and
4. in the case of the Sale Shares Offer, provide the Selling Shareholders with a partial realisation of their investment in the Company. The net proceeds from the New Shares Offer, expected to amount to up to €9.5 million, form part of a wider long-term funding and investment plan of the Company that is aimed at funding the strategic development plans of the Company.

Click here to download the prospectus.

This information which was compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such. Jesmond Mizzi Financial Advisors Limited is licensed to conduct investment services by the MFSA and is a Member Firm of the Malta Stock Exchange. The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article. For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 21224410, or email [email protected]