MIDI plc – Interim Directors’ Statement

MIDI plc announced that during the financial period commencing on January 1, 2015 up to May 15, 2015, no material events and/or transactions have taken place that would have an impact on the financial position of the company such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rule, other than those covered herein or by separate communications in terms of the Listing Rules.

Works on the North phases of the Tigne Point project are currently in line with projections. The development of another residential block is also progressing at a steady pace, with the Company targeting a launch of these apartments by Q3 2015. The Company is also developing the office block at TignePoint as previously announced and this development is also on target.

With regard to the Manoel Island development, the Company is in discussions with third parties that have expressed an interest to invest in the said project.

The Board of Directors is satisfied with the Company’s current direction, which is starting to deliver positive results, while in the process consolidating the Company’s financial and operational capabilities and thus looks to the future with cautious optimism.

To view the official company announcement, click here.