The Hon. Minister of Finance Professor Edward Scicluna visited Chetcuti Cauchi’s main office in Valletta on the 7th December 2016 to inaugurate the launch of Prospecta Corporate Finance, a subsidiary of Chetcuti Cuachi’s corporate advisory arm which is aimed at helping SME's to list on Malta's capital markets.
Minister recognises Chetcuti Cauchi's efforts promoting Malta abroad
In his speech, the Minister commended Chetcuti Cauchi for the setting up of Prospecta Corporate Finance Ltd. Chetcuti Cauchi’s success in this initiative will in turn be a success for Malta’s finance industry and economy. Minister Scicluna stressed the importance of capital markets, dubbing it as a top priority for Malta. In this regard, the Malta Stock Exchange launched A National Capital Markets Strategic Plan with the aim of taking the Maltese Capital Markets to the next level. The Malta Minister of Finance addressed this plan and the need to change in attitude of the Maltese business community towards risk taking and business in general. In Europe, particularly in Malta, companies which fail have no way of recovering. While fostering a sound, regulated environment, Malta will work towards giving companies that act in good faith but fail due to changes in the market a second chance by protecting them from creditors for a short time while such companies recover and create an optimal restructuring plan which will allow them to move forward. The introduction of Prospects Listing platform at the Malta Stock Exchange to Malta’s Capital Markets was a step in the right direction towards developing the Maltese capital markets and providing a better platform for SMEs seeking to access risk capital which will allow their businesses to grow.
Benefits of Prospects SME Listing Platform
Cost Effective Access to Finance
Admission Fee of €5,000 and on-going annual fees starting at €5,000. Corporate Advisor Admission Fee of €2,000 and on-going €1,000 per annum per mandate
Lighter Admission Requirements
Disclosure based admission requirements which allow for a more flexible admission regime than solely based on strict criteria. The basic criteria that a company needs to satisfy for eligibility for admission are that it is a plc, together with the appointment and retention of a Corporate Advisor to ensure compliance with relevant Rules
Fast Turnaround
The admission process is managed and regulated by the Malta Stock Exchange, and we expect to have a turnaround of just one month from the date of formal application with all documentation
International Admission
Prospects is a Maltese market, operating under a MIFID MTF structure, but which is accessible to both Maltese as well as non Maltese companies seeking to be admitted. The importance is the corporate advisor role that would need to be present in the country of domicile of the applicant in order to be able to monitor and engage with the applicant company
Corporate Advisor
The corporate advisor is a critical role that will ensure continued good corporate governance and transparency, thus supporting the investor protection and market operations both before the admission as well as after the company is admitted to prospects
Online Documentation
All documentation required to apply for admission to Prospects is available online through the Prospects web site, making the application process very straightforward and efficient. These can be downloaded and completed by the applicant or the applicants corporate advisor
Chetcuti Cauchi's Capital Markets Practice
Chetcuti Cauchi Advocates' capital markets practice acts as a point of reference for small businesses seeking to expand their operations. Through Prospecta, we shall be acting as a licensed and recognised corporate advisor. Our role will ensure that our client companies will set up an efficient corporate governance system which is fully transparent throughout the entire admission process and after this has been completed.
Press Release by the Ministry of Finance: Malta Finance Minister inaugurates Corporate Advisory Firm for SME Listings on Malta Stock Exchange
