Chetcuti Cauchi have formed a legal partnership with GħSL – Malta Law Students’ Society, a non-profit and faculty-based law student organisation at the University of Malta. Through this partnership, Chetcuti Cauchi have committed to working hand in hand with the organisation to continue creating new opportunities for law students at the University of Malta.
Priscilla Mifsud Parker, Senior Partner for Corporate, Trusts and Fintech at the firm, delivered a speech at the event commemorating the legal partnership with GħSL. Dr Mifsud Parker spoke about Chetcuti Cauchi’s ongoing commitment towards students, “since its inception, Chetcuti Cauchi has strived to provide a helping hand to law students, who will essentially form the legal profession of tomorrow. With this partnership, Chetcuti Cauchi will continue to build of this commitment and continuously reach out to law students.”
GħSL’s president, Lara Attard, also spoke at the event and thanked Chetcuti Cauchi for its generosity towards GħSL. Ms Attard also noted that this was not the first time the firm had supported the organisation: “GħSL’s relationship with Chetcuti Cauchi started about two years ago, when they generously offered to fund the participation of Maltese law students in a prestigious international moot court competition. This legal partnership is the culmination of Chetcuti Cauchi’s generosity towards GħSL.”
James Satariano steps down as IOD chairman
James Satariano has stepped down as chairman of the Institute of Directors Malta Branch (IoD). One of the world’s longest serving chairmen in IoD’s history, Mr Satariano spent 21 years overseeing the introduction and growth of corporate governance and director education in Malta.
Under Mr Satariano the IoD became the foremost business organisation in Malta working on corporate governance education, events, workshops, training and has become the trusted partner of all key institutions on corporate governance issues: Ministry of Finance, Central Bank, MFSA, MSE, Finance Malta, Chamber of Advocates, Malta Institute of Accountants, and many others.
Mr Satariano pioneered the introduction of corporate governance concepts into Malta in the 1990s as well as championing a full programme of director education that embraced a variety of formats. Mr Satariano was also instrumental in securing a number of high-profile international conferences for the Maltese Islands with corporate governance at their heart.
Mr Satariano remains part of IoD Malta’s executive committee and continues to be actively involved with the work of the Institute, which will have the IoD global Chair Charlotte Valeur in Malta for a conference at The Phoenicia on May 16 to celebrate 60 years of the IoD in Malta. This is the first time that IoD’s international Chair will visit Malta.
MFSA in warning on crypto-currency scams
The MFSA issued a guidance note to the public to address the risks associated with investments in crypto assets.
The guidance note explains that such scams were highly likely to be advertised online, with the use of clickbait titles to attract users and make them fall into their trap.
Some of the illicit websites might request personal details, which, when provided, were followed by a phone call from a friendly and supposedly expert sales person whose aim was to convince victims to invest money in their scheme.
The document outlines the most common types of cryptocurrency scams which investors need to be vigilant about.
These include: (a) fake ICOs (Initial Coin Offerings), which can only be used on the platform provided, and whose platforms may eventually be closed and disappear along with the investor’s money; (b) crowdfunding ventures promising higher gains which are availed of once the coin becomes active; (c) fake exchange platforms and fake e-wallet apps.
To establish whether a scheme was a scam, it was recommended that one went through the checklist of the 11 most common warning signs, namely: Unrealistically high rates of return which are usually higher than the market average; Easy withdrawals which may be made at ‘anytime’; Promises that any funds deposited are 100 per cent guaranteed; The business being unregulated; Lack of documentation or the use of documentation which is copied from a legitimate business; Aggressive selling techniques which put pressure and rush you to secure a sale; The absence of physical local offices; Contradiction between documents and spoken information; Not answering and avoiding hard questions; Lack of information being provided on the website, or within the whitepaper; And the use of buzzwords such as ‘no risks’, ‘gains guaranteed’, ‘become a billionaire’, ‘free services just register’.
Convenience Shop goes public
Leading retail chain The Convenience Shop, which operates 62 outlets after just 10 years in operation, has raised €5 million through a fully subscribed bond operated by the Malta Stock Exchange.
The Unsecured Callable Bond, which forms part of Prospects MTF, was snapped by over 500 investors who will benefit from a five per cent return between 2026 and 2029.
The Convenience Group comprises a mix of fully-owned stores and franchisees operating a highly-successful formula which is present in numerous locations around Malta.
Convenience Group CEO Martin Agius said: “The Convenience Shop has come a long way since its humble beginnings as a single store in Żebbuġ a decade ago and we will be using this cash injection to finance our ambitious growth strategy.
“We intend to continue to expand our presence in Malta and Gozo and seek to launch further products and initiatives tailored for fast-paced modern lifestyles.”
Mr Agius and Benjamin Muscat, chairman of The Convenience Shop (Holding) plc, rang the bell at the Malta Stock Exchange in the presence of shareholders and directors of the Group, marking the admission of the company bond to the Prospects MTF market.
€2 million GO Ventures Fund
GO has launched its ‘GO Ventures’, a €2 million Tech Start-up Fund focused mainly on start-ups in the fields of artificial intelligence, big data and analytics, internet of things, cybersecurity, blockchain, fintech and related areas.
The investment package being made available includes cash, spacious co-working space in Birkirkara, GO’s full suite of telecom and cloud services, access to markets and networks and mentoring.
“We realise that one of the ways for us to continue driving innovation is to partner with dynamic entrepreneurs in the digital domain. We also want to be among the first corporates to join the budding community of angel investors in Malta,” said CEO Nikhil Patil.
“We are pleasantly surprised with the feedback we have received so far. In fact, once we announced this Fund last October, things immediately started shaking up and since then, we have been actively following up on a number of pitches we received and started discussing a few interesting prospects,” he added.