MMH Finance plc, the finance vehicle of Mediterranean Maritime Hub (MMH Holdings Ltd), said that negotiations with a leading financial institution and with prospective investors, “are still ongoing.”

“Meanwhile, the company confirms that MMH Malta Limited, which is the group’s main operating company, remains fully operational and committed to serving its clients as normal,” the statement continued.

The group reaffirmed its commitment to transparency, stating that, as it has consistently done in recent months, it will continue to keep the market informed of any developments as and when they arise.

This comes after it was announced that MMH Finance would be delaying the publication of its annual financial report, which should have been due by 30th April 2025. The company said that it expects to be able to publish the report by the end of June.

The delay in the publication of the report is expected to lead to the suspension of trading in the company’s listed bonds by the Malta Stock Exchange as of 2nd May. However, so far nothing has yet been officially communicated.

In September 2024, MMH announced that it will require “alternative financing” to redeem a €15 million bond due in 2026.

MMHF had issued the fully subscribed bonds to the public in 2016 which were then redistributed to two companies within the group to finance the development of a 170,000-metre squared site, formerly known as the Marsa Ship Building site.

The site was intended to serve as a regional hub for the provision of the group’s shore-based services and facilities within its industry. However, the proposed buyout of MMH by Virtu Holdings Limited and LTV Developments Ltd, eventually fell through.