FES Company Announcement
The following is a company announcement issued by FES Finance p.1.c. (“FES” or the “Company”) pursuant to Rule 4.11.13 of the Prospects Rules.
Update to Company Announcement FESOS and FES 15
Reference is made to announcement FES05 issued by FES Finance p.l.c. on the 15 October 2019 (the “Original Announcement”) whereby the Company announced that, by virtue of an agreement dated 30 September 2019, FES Projects Limited, a limited liability company registered under the laws of Malta with company registration number C83872, having its registered office at 19-25, Conservatory Street, Floriana, Malta (“FES Projects”), the parent company of FES and Guarantor for the purposes of the Secured Bond issued by FES on Prospects MTF, entered into a promise of sale agreement with GOLCO Limited, a limited liability company registered under the laws of Malta with company registration number C8770, having its registered office situated at “Standard Buildings” C. De Brockdorf Street, Msida, Malta (“the Vendor”). By virtue of the said promise of sale, the Vendor promised and bound itself to sell and transfer to FES Projects the house tale quale with the external official number ten (10) named “ANTVIRG” in Ponsomby Street, Gzira, including the back garden, subsoil and overlying airspace (the “Property”). As stated in the Original Agreement, the promise of sale agreement was valid and effective up to 30 June 2020.
On the 28 March 2020 the Company announced that the Vendors and FES Projects Ltd have entered into an agreement to extend the promise of sale agreement to 31 December 2020.
The Company hereby announces that the Vendors and FES Projects Ltd have entered into a new agreement on 29 December 2020 to extend the promise of sale agreement to 31 January 2021, whereby a further deposit of €20,000 was paid. This promise of sale can be extended up to 31 December 2022 if FES Projects Ltd pay the Vendors a further deposit on account of €560,000 by 31 January 2021