ccmalta.com/capital-markets-finance

Listing in Malta

GDP GROWTH 4.3% in 2015 (EC)

REGULATOR Malta Financial Services Authority

WORKFORCE Well qualified, English speaking

TIME ZONE Central European Time Zone (UTC+01:00)

EUROPEAN UNION Member of the EU & Eurozone

UNEMPLOYMENT RATE 5.8% in 2015 (EC), lowest in the EU BANKING SYSTEM 10th soundest system in the world (WEF)

FINANCIAL SERVICES FRAMEWORK EU and OECD approved

Dr Maria Chetcuti Cauchi Partner, Financial Services mcc@cclex.com

ALTERNATIVE COMPANIES LIST

www.ccmalta.com/capital-markets-finance

MALTA Malta enjoys a stable political climate and a bi-partisan political scene that is largely convergent on issues of national and economic importance. Malta and Germany were the only two states in the Euro Zone maintaining economic growth during the financial crisis. Malta’s banks have been ranked amongst the soundest in the world. Malta has been a member of the EU since 2004 and of the Schengen Area since 2007. The Malta Alternative Companies List (ACL) is a Malta Stock Exchange (MSE) initiative aimed at providing listing opportunities for companies and investors with the potential to grow, yet do not fulfill the rigorous requirements for MSE Official Listing. Listing on the ACL offers the benefit of EU Passporting, as well as, international recognition.

LEGAL BASIS FOR LISTING ON THE MALTA ALTERNATIVE COMPANIES LISTListing on the Malta ACL is regulated by the Financial Markets Act (2002), which was amended in 2007 to take into account EU reforms. The administration of the Act falls within the remit of the Malta Financial Services Authority (MFSA), which is an official & independent body also responsible to issue Listing Rules.

BENEFITS OF LISTING ON THE ALTERNATIVE COMPANIES LIST

€ share price as M&A currency

Fast listing & approval process

Top Brand listing Access to international market

International visibility & recognition

EU Passporting

MINIMUM REQUIREMENTS

The minimum fully paid up share capital of the applicant for listing on the Malta Alternative Companies List is of is €50,000.

LISTING OF DEBT SECURITIES

Listing debt securities requires a minimum of €200,000 with a minimum subscription of at least €50,000 per individual investor and a subsequent minimum holding of €50,000 maintained throughout his/her investment. No trading record is required.

LISTING EQUITY SECURITIES

Listing equity securities requires a minimum of €1,000,000, with a minimum subscription of at least €10,000 per individual investor. Shares in the Hands of the Public must at least be 25% of the listed shares.

The applicant is also required to provide a trading record with filed annual accounts of the preceding 3 financial years (a derogation may apply).

ELIGIBILITY FOR LISTING ON THE MALTA ALTERNATIVE COMPANIES LISTTo be eligible to list on the Malta Alternative Companies List, the applicant must be an incorporated company, with a Memorandum and Articles of Association which is in conformity with listing rules. This implies that securities must be duly authorised, in accordance with the applicant’s place of incorporation. Funds must be freely transferable and expected to enjoy adequate continuity of dealing.

ELIGIBILITY REQUIREMENTS

Applicant to be an incorporated Co

Share capital; €50,000 min

Securities must be freely transferable

Subscription; €10,000 per investor

depends whether equity or debt

+ + + + =€€

Equity Securities; €1,000,000 min.

€

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Listing Timeline

ALTERNATIVE COMPANIES LIST

WHY WORK WITH US?

Engagement

Preliminary Meeting with

the Listing Authority

Approval & Admission to

Listing

Submit Application for ‘Admissibility of Listing’ &

‘Admission to Listing’

2-3 WEEKSCOMPLIANCE TIME

• Selecting and appointing a sponsor

3MONTHS

1-2 MONTHSPREPARATION TIME

• Compiling offering documentation & preparation of application

1 MONTHREVIEW TIME

• The Listing Authority reviews the applications

Success Rate:Problem Solving, Integrity, Honesty

15+ YearsExperience in

Financial Services

Chambers & Partners Global, Legal 500:Ranked Lawyers

Malta-Cyprus Lawyers,

Tax advisors, Fiduciary staff: 100+

Our Ethos:Small firm personal, Big firm expertise

We’re lawyers: Lawyer -

Client Privilege

Dr Maria Chetcuti Cauchi Partner, Financial Services mcc@cclex.com

15YEARS100%

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