MIDI restructures senior management as business activity contracts

Two senior positions to end

The Board has resolved to terminate the employment of Chief Financial Officer Jesmond Micallef and Senior Project Manager Perit Ivan Piccinino. Their employment will end on 31 August 2026 and 30 September 2026, respectively.

Organisational review follows changes in operations

MIDI said the decision reflects the reduced scope of both roles as the company’s business activity contracts. This follows the return of Manoel Island to the Government and the nearing completion of its other major development, Tigné Point Q3.

The responsibilities currently carried out by the two officials will be absorbed internally, with existing members of the organisation taking over their respective functions.

Disclosure under Capital Markets Rules

The company confirmed that there are no other matters relating to either official that require disclosure under the Capital Markets Rules.

The announcement gives shareholders an update on how MIDI is adjusting its management structure as its development portfolio and operational requirements change. It also provides investors with further context on the company’s response to the reduced scale of its ongoing projects.