Exalco Holdings Limited
Exalco Holdings was incorporated on 27 June 2018 and will act as the holding company of the Guarantor and the Issuer. The principal objects of the company are to acquire, hold, manage and buy and/or sell securities and to invest in companies and other entities.
Exalco Finance p.l.c. (the Issuer)
Exalco Finance was incorporated on 17 July 2018 and will act as the Issuer for the purposes of the Bond. The principal objects of the company are to carry on the business of a finance company, and the financing or re-financing of the funding requirements of the business of Exalco Group.
Exalco Properties Limited (the Guarantor)
Exalco Properties’ primary operating activity comprises the acquisition and development of high-quality business centres and the leasing of office and retail space to third parties. The Company, formerly known as Exalco Group Limited, owns six large business centres in prime locations across Malta. Exalco Properties will act as the Guarantor for the bond issue.
THE BOARD OF DIRECTORS
In compliance with the company’s Articles of Association, the appointment of directors is reserved exclusively to the Company’s shareholders. The board is composed of the following Directors:
In compliance with the requirements of the Listing Rules issued by the Listing Authority the Board of Directors established an Audit Committee to support it in its responsibilities in dealing with issues of risk; control and governance; and associated assurance.
The Committee’s terms of reference of the Audit Committee establish the composition, role and function of the Committee, the parameters of its remit as well as the basis for the processes that it is required to comply with. The Committee is a sub-committee of the Board and directly responsible and accountable to the Board. The Board reserves the right to change these terms of reference from time to time. The Audit Committee is composed of the following Directors:
Mr Lawrence Zammit
Mr Mario P. Galea – Member competent in accounting
Mr Kevin Valenzia – Member competent in accounting
The above are non-executive directors of the company.
PricewaterhouseCoopers are engaged as external auditors on an annual basis during the company’s Annual General Meeting by means of a resolution for their appointment.
The contact details of PricewaterhouseCoopers are:
78 Mill Street
Tel: +356 2124 7000
Fax: +356 2124 4768