C&N wants Grand Harbour Marina to retain listing
Camper and Nicholsons Marina Investments Ltd, which has entered into conditional promises to acquire a 50 per cent stake in Grand Harbour Marina, had said it believes strongly in the benefits of retaining a Maltese locally listed marina company.CNMI on...
Camper and Nicholsons Marina Investments Ltd, which has entered into conditional promises to acquire a 50 per cent stake in Grand Harbour Marina, had said it believes strongly in the benefits of retaining a Maltese locally listed marina company.
CNMI on April 25 announced it had entered into conditional agreement to acquire 50 per cent of the marina with an option for a further 20 per cent.
"In the light of representations received from certain GHM shareholders and others, CNMI wished to make clear that while it is required to make a mandatory offer to all shareholders if it acquires more than 50 per cent of GHM's issued share capital, it believes strongly in the benefits of retaining a Maltese locally listed marina company" CNMI said in a company statement.
"As a result it welcomes the continued participation of local investors in GHM holding a significant minority interest. In the event that GHM free float falls below the 25 per cent minimum free float required to maintain GHM's listing, CNMI and GHM will need to discuss the situation with the MFSA in order to consider whether there are grounds for GHM to seek a dispensation so as to maintain GHM's listing on the Malta Stock Exchange. If GHM's listing is maintained, CNMI would not expect to exercise any rights it may obtain to acquire compulsorily the remaining GHM shares," the company said.
CNMI on April 25 announced it had entered into conditional agreement to acquire 50 per cent of the marina with an option for a further 20 per cent.
"In the light of representations received from certain GHM shareholders and others, CNMI wished to make clear that while it is required to make a mandatory offer to all shareholders if it acquires more than 50 per cent of GHM's issued share capital, it believes strongly in the benefits of retaining a Maltese locally listed marina company" CNMI said in a company statement.
"As a result it welcomes the continued participation of local investors in GHM holding a significant minority interest. In the event that GHM free float falls below the 25 per cent minimum free float required to maintain GHM's listing, CNMI and GHM will need to discuss the situation with the MFSA in order to consider whether there are grounds for GHM to seek a dispensation so as to maintain GHM's listing on the Malta Stock Exchange. If GHM's listing is maintained, CNMI would not expect to exercise any rights it may obtain to acquire compulsorily the remaining GHM shares," the company said.