Monday 11 December 2017

Trident Park Development

Reference is made to the Planning Authority’s (the “PA”) statement dated 10 November 2017 and published on the Authority’s website in response to the Company Announcement issued by Simonds Farsons Cisk plc (the “Company”) on the 9 November 2017.

The Company issued the said Company Announcement to notify the market of the outcome of the PA board meeting, which is considered price-sensitive information and hence obliged to report pursuant to its listing on the Malta Stock Exchange.

The Company would like to clarify the issue of a “master plan” raised during the first hearing held in October. The Company submitted a plan indicating how the business park would sit on a site in total measuring 69,000m2. Areas covering this site are occupied by the Company’s operations, as approved through the necessary planning permits, and would also house the proposed business park. Given that no other developments are contemplated, the overall plan submitted is therefore a comprehensive and complete master plan for the use of the said site. Therefore, the statement issued by the PA that the Company opted not to submit a master plan is not correct.

Furthermore, the PA’s assertion in its issued statement that the Planning Directorate in its Development Planning Application Report (the “DPAR”) recommended approval in spite of the “project not being in accordance with planning policies” is also factually incorrect, given that, referring to the proposed height, the DPAR clearly states that “the intended height of the development is also deemed acceptable” and that the site “complies with all the above-mentioned criteria”.

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