MIDI

MIDI was granted a concession to develop Manoel Island together with Tigné Point, by virtue of a public deed dated 15 June 2000, the Company acquired the Emphyteutical Land at Tigné Point and Manoel Island from the Government of Malta by title of temporary emphyteusis for a period of ninety-nine (99) years which commenced in June 2000. Under the same Emphyteutical Deed, the Company also acquired from the Malta Maritime Authority, for a period of ninety-nine (99) years, the right to develop and operate a yacht marina on a defined area facing the south shore of Manoel Island in Ta' Xbiex Creek, Limits of Gzira.