Malta International Airport plc has been informed that the government of Malta has decided to offer for sale on the Malta Stock Exchange 13,530,000 Ordinary ‘A’ Shares in the company, estimated to be a further 20 per cent of the state’s slice of the airport. The transaction is envisaged to be completed before the end of 2005.
The Central Bank yesterday announced that interest rates will be retained at their current levels but the announcement came with a stern warning by the Bank’s Governor Michael Bonello who insisted that adjustments in the country’s monetary policy are not enough to address the structural imbalances in the economy.
The Attorney General’s office and the Registrar of Companies have never asked for a company director in Malta to be disqualified from taking up further directorships although both are empowered to do so.
The reserves held by the Central Bank of Malta to back up the Lira will have to be transferred to the European Central Bank once the country joins the single currency and the Euro becomes legal tender.