The Farsons board has suspended plans to spin off the company's shareholding in Trident Estates - a property holding company - and list Trident on the stock exchange, after an indicative decision by the Planning Authority yesterday to reject an application for a €40m business park in Mrieħel.
Farsons explained how the PA board at a meeting yesterday indicated that it was minded to reject the recommendation of the Planning Directorate to approve the permit application.
READ: Farsons authorises property spin-off
Farsons said it will be seeking professional advice concerning the PA's indicative decision and the options available in this respect.
However, in view of the significant uncertainty caused by the indicative decision, the plan to spin‐off the company shareholding in Trident Estates and the subsequent listing of Trident on the Official List of the Malta Stock Exchange has been put in abeyance.