The Company announces that further to the approval of the Board of Directors, the Company will be, subject to general meeting approval, seeking to dispose of up to forty-nine percent (49%) of its shareholding (the “Shares”) in BMIT (formerly GO Data Centre Services Limited) through an initial public offering of the Shares.
The core business of BMIT is primarily carried out through the following four companies: BMIT Limited (C 39594), Kinetix IT Solutions Limited (C 27726), BM Support Services Limited (C 39699) and BellNet Limited (C 30793) (collectively, the “BMIT Group”). The combined portfolio of the BMIT Group enables it to offer its customers a complete suite of data centre centric services, including hosting and managed services, as well as a range of public, private and hybrid cloud services. These can be deployed at the customers’ premises, hosted at any of the BMIT Group’s data centres, or integrated with services offered by leading cloud services providers. Moreover, the BMIT Group also specializes in the design, implementation, support and optimization of ICT solutions for the corporate sector.
The following are key individuals to the BMIT Group:
Christian Sammut – Chief Executive Officer
Gordon Bezzina – Chief Technology Officer
Adrian Dalli – Chief Enterprise Solutions Officer
Curt Gauci – Chief Digital Transformation Officer
Jack Mizzi – Chief Marketing Officer
Alexia Muscat – Chief Finance Officer
Nick Tonna – Chief Commercial Officer
Dione Vella – Chief Customer Experience Officer
The value of the gross assets attributable to the BMIT Group as at 31 December 2017 amounted to €15.8 million and profit after tax generated by the BMIT Group during the financial year ended 31 December 2017 amounted to €4.1 million. The sale of the Shares will generate liquidity to the Company that will be applied to deliver returns to its shareholder.
The Company is seeking to raise up to forty-nine million Euro (€49,000,000) through the disposal of the Shares.
A Circular providing further information will soon be distributed to the Company’s shareholders in connection with an extraordinary general meeting of the Company convened to approve the disposal of the Shares.