The Convenience Shop (Holding) p.l.c
The Convenience Shop (Holding) p.l.c (‘TCS’ carries on the business of a finance and holding company. TCS is a public limited liability company registered and incorporated in terms of the Companies Act (Chapter 386 of the Laws of Malta) with company registration number C 87554. Its registered office is at Marant Food Products, Mdina Road, Zebbug ZBG9017, Malta.
TCS is a holding company for the TCS Group and is economically dependent on the business prospects of the TCS Group. The TCS Group’s profit margins arise from two sources: fees from franchised outlets and, sales from company-operated outlets both operating under The Convenience Shop brand in Malta.
TCS has issued an unsecured callable bond of €5m on the Prospects MTF Market.
Bond Issue Size: €5 Million
Maturity: 2026 – 2029
Listing Type: MSE Prospects MTF
Auditors: RSM Malta
Corporate Advisor: Calamatta Cuschieri Investment Services Ltd
Meet the Board:
Mr Benjamin Muscat; Chairman and Independent Non-Executive Director
Benjamin Muscat is a Certified Public Accountant by profession (Fellow of the Association of Chartered and Certified Accountants – FCCA) with a long career in finance and management at senior executive positions. He has worked in various industry sectors including switchgear manufacturing, food production, beer and soft drink brewing and production and bottling, international fast food franchising, hospitality and timeshare, construction and real estate development, including marketing and selling luxury condominiums. In his capacity as Chief Executive Officer of MIDI Plc a Maltese listed company, Benjamin was key in the development of the Tigne’ Point Project. Benjamin was also instrumental in the promotion of the re-generation of part of Malta’s historical Grand Harbour including the development of a cruise ship porting facility locally known as the Valletta Waterfront project. He also has extensive experience in raising project specific funding via banking facilities, third party investment, private placements, and issue of equity and debt instruments through retail offers subsequently listed on the Malta Stock Exchange. Today Benjamin provides professional services as a freelance consultant and independent directorship services.
Mr Charles Scerri; Independent, Non-executive director
Charles Scerri is a Certified Public Accountant by profession (Fellow of the Institute of Accountants) with a long career in finance and management at senior executive positions. He has worked in various industry sectors including banking and finance, auditing, leisure and hospitality. In 1995 he set up his own accountancy and audit practice, Charles Scerri & Associates, with the firm currently employing more than 45 employees and being the exclusive representative of IAPA in Malta. Charles also sits as an independent director on various boards.
Dr Kevin Deguara; Non-executive Director
Dr Deguara is a qualified lawyer and founder partner of DF Advocates. Dr Kevin Deguara heads the Private Client Department within the firm. He specializes in international structuring for ultra-high net worth individuals, families, succession, asset protection structuring, citizenship and immigration issues. He has also considerable experience acting as a transactional lawyer specialising in real estate. He has over the last 17 years advised developers and landowners on a variety of residential, commercial, retail, leisure, educational and mixed use developments. He also occupies a number of posts as director on the boards of a number of companies involved in retail, manufacturing, real estate, corporate services and hospitality business.
Mr Joseph Pace; Executive Director
Mr Pace has been in the retail and foodstuffs business for over 17 years with significant experience in the management of day-to-day operations from his start as owner of JPS supermarket in 2001. Mr Pace has also consistently shown his financial acumen to be up to standard through his operational and financial involvement as director of Marant Food Products Limited, a company which supplies pre-packed food to groceries and supermarkets nationwide. Such financial acumen has been further defined through Mr Pace’s role as owner and finance director of the Group, which has grown from one shop in Zebbug to over 55 shops over a span of 10 years. As finance director, Mr Pace is responsible for the Group’s accounting function, expansion strategies, financial management and financing amongst others.
Mr Ivan Calleja; Executive Director
Mr Ivan Calleja has led the Group from its inception to its current position in the minimarket sector. Mr Calleja has developed the Group’s operational strategy and is in charge of maintaining solid relationships with the Group’s shareholders, business partners and the respective authorities. Mr Calleja also serves as the main point of contact between the directors and most of the Group’s middle management and support staff with proven problem-solving and conflict management skills. Mr Calleja also serves as the public relations representative of the Group.
Mr Manuel Piscopo; Executive Director
Mr Piscopo has been involved in the Group since 2005 as owner and manager of the Safi and Mqabba outlets. More recently, Mr Piscopo was also involved as shareholder and manager of a number of entities within the Group. Mr Piscopo has also served the Group as head of new outlets and maintenance since 2014 and has been actively involved in setting the Group standards and ensuring that such standards are maintained throughout the various outlets.