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COMPANY ANNOUNCEMENT: Sale of Shareholding in Valletta Cruise Port 01/09/2015

The following is a Company Announcement by Simonds Farsons Cisk plc pursuant to the Malta Financial Services Authority Listing Rule 5.13.

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Simonds Farsons Cisk plc (“SFC”) announces execution of a share purchase agreement for the sale of its shares in Valletta Cruise Port plc (“VCP”) through its holding in FSG Company Limited

FSG Company Limited (in which SFC has a 50% shareholding), together with Malta International Airport plc, and Bank of Valletta plc, have today entered into a binding share purchase agreement for the sale of 30.97 per cent shareholding in VCP to Global Liman İşletmeleri A.Ş. (“GLI”), a 100% subsidiary of Global Yatırım Holding A.Ş. The successful completion of the transaction is subject to legal and regulatory approvals and the waiver of the pre-emption rights by the remaining shareholders of VCP to allow the transaction to be completed in accordance with the terms agreed in the share purchase agreement. The total consideration for the shares will be announced following the successful completion of the conditions precedent and closing of the transaction.

The agreement envisages the sale by each of FSG Company Limited, Malta International Airport plc and Bank of Valletta plc and of all of their respective shares in VCP, for an equity stake totaling 30.97 per cent of the issued share capital of VCP. 

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Antoinette Caruana
Company Secretary