At the Annual General Meeting of Simonds Farsons Cisk plc that was held on 27 June 2017, the shareholders approved the spin-off of Farsons’ shareholding in Trident Estates plc. The spin-off is being effected through the payment of a dividend in kind by way of a distribution of Farsons’ shareholding in Trident of 30 million shares with a nominal value of €1 to its shareholders pro rata their respective shareholdings in Farsons. This dividend pay-out amounted to €37,211,000 in value, equivalent to €1.2403667 per Farsons share. As a result of the spin-off, each shareholder in Farsons will receive one share in Trident for each Farsons share held by that shareholder, and no payment is due by the shareholder. The number of shares held in Farsons by the shareholders will not be affected by the spin-off.

The Listing Authority approved a prospectus dated 18 December 2017 relating to the admissibility to listing of the Trident shares. The prospectus may be downloaded from the Investor Relations’ section within Trident’s website (www.tridentestatesplc.com) or obtained from Farsons’ registered office. As noted above, the shareholders of Farsons that were on the register of members as at close of business on 21 December 2017 will receive one Trident share for every share which they hold in Farsons. To complete this process, Farsons has mailed out a Share Transfer Agreement to each of its shareholders, together with a request that the document be signed and returned to Farsons by no later than 19 January 2018. Any Trident shares in respect of which no agreement has been received by Farsons by this date will be settled in trust for the benefit of the shareholder/s until such time as the documentation has been completed. Through the execution of the above Share Transfer Agreement, the respective Farsons shareholder will become a Trident shareholder.  It is intended that the shares in Trident will be admitted to listing on the Malta Stock Exchange by not later than 31 January 2018.