J. Zammit Estates Limited, a subsidiary of Agora Estates plc, has completed a merger by acquisition of three companies: Car-Sun Limited, Zammit Business Centre Limited and De Rohan Business Centre Limited, all owned by the holding company.

This follows the company’s earlier announcement regarding its intention to merge the companies. In June 2024, the company shared plans to issue 116,550 ordinary shares of €0.01 each and 35,820,000 ordinary shares of €0.10 each.

Now, as the amalgamation of the companies into J. Zammit Estates took effect on 26th December, the company has, through the acquisition, succeeded to all the assets, rights, liabilities, and obligations of the three companies.

In turn, the three companies have ceased to exist and have been struck off with effect from the date of the acquisition.

Following this restructuring exercise, Agora Estates plc will now operate through J. Zammit Developments Ltd as a property development company and J. Zammit Estates Ltd as a property rental company.

J.Zammit Estates was incorporated in 2011 and became fully owned by Agora Estates, the holding company and financing arm of Agora Group, on 23rd April 2019. Its primary objective is to acquire and develop immovable property, whether residential or commercial and to create an investment property portfolio for rental income and capital appreciation.

The company owns eight commercial properties strategically located in the central region of Malta, including showrooms, warehouses, and offices.

Meanwhile, Car-Sun Limited’s role was to hold its investment property portfolio for rental income and capital appreciation and owned a commercial property. On the other hand, Zammit Business Centre Limited’s role was to act as a holding company for the investment in De Rohan Business Centre Limited.

De Rohan was incorporated in 1992 and was also aimed at holding an investment property portfolio for rental income and capital appreciation. It owns one excavated parcel of land with intention of developing into a business centre, with warehousing, a showroom and offices.