Tigné Mall plc, owner and operator of The Point shopping mall, held its Annual General Meeting (AGM) on June 22, 2023 physically after three years of remote meetings.

Joseph Zammit Tabona, Chairman of the company welcomed shareholders to The Grand Ballroom of The Phoenicia Malta in Floriana. In his opening statement, he explained how 2022 had signified a return to relative normality for the mall and how this had been reflected in its financial performance.

Chief Executive Officer Edwin Borg, started his review stating that “Looking back at the past year, we have overcome significant challenges. The retail industry experienced a paradigm shift, with the continued growth of e-commerce and the lingering impact of the global pandemic. Despite these obstacles, the business demonstrated remarkable resilience and adaptability.”

He added that the company’s commitment to sustainability remained steadfast and explained a number of eco-friendly initiatives implemented, including energy-efficient lighting and waste management programs. He further explained that, looking ahead, the company will continue to evolve, adapt, and innovate to meet the ever-changing needs of its customers.

Key targets in this respect include maintaining an exceptional mix of retailers and creating an unforgettable shopping experience. Likewise, the company is to continue fostering a sense of community by hosting engaging events and supporting local initiatives.

Concluding his address, Borg stated that “I am immensely proud of what has been achieved so far. The challenges we faced have only made us stronger, and I am confident that our shopping center will continue to be a thriving hub of commerce and community engagement. Together, let us embrace the future with optimism, innovation, and a shared commitment to success.”

Further to the approval of the Financial Statements and Directors’ and Auditors’ Reports for the year ended December 31, 2022, PricewaterhouseCoopers were reconfirmed as the company’s auditors. The official version of the Annual Financial Report can be found on the company website www.thepointmalta.com, in the Investors Relations section.

The shareholders also approved the Board of Directors’ recommendation for a dividend payment of €0.0136 per ordinary share, representing a final net dividend of €765,000 to be paid to shareholders on its register as at close of trading on June 22, 2023.

All the directors of the company retired from office in terms of its Articles of Association, and since there were as many nominations as there were vacancies, no election was required. The Chairman welcomed Etienne Sciberras and Suzanne Stafrace, as the two new directors on the Board. He also thanked the outgoing directors, David Demarco and Chantelle Marie Coleiro, for their valuable contributions during their tenure.

Zammit Tabona ended the meeting by expressing his heartfelt gratitude to the company’s shareholders, board members, employees, and customers for their support throughout the year. “It is because of your trust and commitment that we have been able to maintain our position as a premier shopping destination. For this I am truly grateful,” he concluded.