1. INVESTMENT PROPOSAL

2. €800,000 RETURN ON INVESTMENT MINIMUM OF 8.5% €68,000 CONTRACTORS CYT €200,000 FURTHER INVESTMENTS WORKING CAPITAL €250,000 ENTERTAINMENTS LTD €200,000 PIZZA FACTORY CO. LTD. €50,000 PENTERTAINMENTS LTD €270,000 PIZZA FACTORY CO. LTD. €80,000 COCTAIL AREA €15,000 ROOF TERRACE €150,000 FUEGO QAWRA €70,000 ADVERTISING CAMPAIGN €35,000 REFURBISHMENT ST. JULIAN’S €20,000 3 rd BARROW €20,000 2 NEW OUTLETS €40,000 CURRENT SALES €2,260,000 EXPECTED NEW SALES AFTER INVESTMENT €3,400,000

3. Investment proposal Investment of €800,000 acquiring 33% shares in Entertainments Ltd and Pizza Factory Co. Ltd. Currently operating:  ENTERTAINMENTS LTD  Canas Y Tapas – 180 seater Spanish franchise restaurant situated in St. Julians  Fuego Qawra – Popular Fuego Nightclub in Qawra.  PIZZA FACTORY CO. LTD  3 Pizza Factory take away outlets, Currently located in St. Julian’s, B’kara and B’Bugia  HOT SAUSAGE BARROWS  A British Franchise serving specially prepared sausages in buns, Currently located: Barrow 1 in St. Georges Barrow  Barrow 2 in St. Julian’s main junction The lastest investment of over €850,000 was recently done in CANAS Y TAPAS which is only 9 months old. A Guaranteed annual return of 8.5% on investment will be paid.

4. Part of the sum invested will enable the company to overcome the current cash-flow situation as €250,000 will be used as working capital. A further €200,000 will be used to pay off the final capital investment in the restaurant. The balance of €350,000 will be used as capital investment as follows:  ENTERTAINMENTS LTD  Canas Y Tapas: Further development of the area around the cocktail bar to be turned into a relaxation zone for the later hours after the restaurant closes. The venue also has a roof terrace which can be developed into a featured cocktail bar. Tapas can be served on the roof terrace along with cocktails, wines and drinks. An advertising campaign will be launched to establish a clientele for lunches and other bigger groups like conventions and meetings..  Further development in Fuego Qawra – possibility of another Spanish Food franchise in a couple of years time. Immediate development: refurbishing of the inside to give it a more Pub/Fuego like theme and turning the outside area into Pizza/Beer garden.  PIZZA FACTORY CO. LTD  Do a full Refurbishment of the St. Julian’s outlet and installing new ovens and other Pizza preparation equipment. Developing the unused area of B’Bugia outlet and turning it into a pizza diner which would specialize in special pizza combos for families. Set up of a pizza base production center, within our own warehouses. Opening of at least one or two more outlets in strategic areas.  Import and set up two more Hot Sausage Barrows in indentified areas in Malta.  Current sales with existing outlets reaching €2,260,000  Estimated sales after investments €3,400,000

5. The Combined Companies Balance Sheet at Today’s Market Values Non-Current Assets Property Qawra125,000 Birkirkara195,000 Plant & Equipment1,400,000 _________ 1,720,000 _________ Intangible Asset Goodwill Value1,800,000 _________ Current Assets Stocks75,000 _________ Total Assets3,595,000 _________ ________ Current Liabilities Creditors845,000 Bank overdraft250,000 _________ 1,095,000 _________ Non-Current Liabilities Bank Loans1,225,000 _________ Total Liabilities2,320,000 _________

6. INVESTMENT OF € 800 000,00 SPLIT ENTERTAINMENTS LTDPIZZA FACTORY CO. LTD. € 250 000,00 -WORKING CAPITAL 200 000,00 50 000,00 € 200 000,00 -PAY CONTRACTORS CYT € 350 000,00 - FURTHER INVESTMENTS ---------- --- 270 000,00 80 000,00 COCTAIL AREA ----------------------- - 15 000,00 20 000,00 REFURBISHMENT ST. JULIAN'S ROOF TERRACE ---------------------- - 150 000,00 20 000,003rd BARROW FUEGO QAWRA --------------------- -- 70 000,00 40 000,00 2 NEW PIZZA FACTORY OUTLETS ADVERTSING CAMPAIGN --------- --- 35 000,00 EXPECTED INCREASE IN CURRENT SALESSALES AFTER INVESTMENTNEW SALES TOTAL 2 260 000,00 1 140 000,00 3 400 000,00 RETURN ON INVESTMENT MINIMUM OF 8.5% 68 000,00

7. LTD ENTERTAINEMENT Consolidated workings for period 2012-2016 Trading, Profit & Loss Account Year 12012 Year 2 2013 Year 32014 Workings€€ €€ €€ SALES (taken from year 1 workings) 1 803 500 (taken from year 2 workings) 1 983 250 (taken from year 3 workings) 2 180 927 1 803 500 1 983 250 2 180 927 COST OF SALES OPENING STOCK 64 400 68 400 72 400 PURCHASES 504 980 555 310 610 660 569 380 623 710 683 060 CLOSING STOCK 68 400 500 980 72 400 551 310 76 400 606 660 GROSS PROFIT GP MARGIN OF 78% 1 302 520 GP MARGIN OF 78% 1 431 940 GP MARGIN OF 78% 1 574 267 OPERATING EXPENSES (figures taken from year 1 workings) (figures taken from year 2 workings) (figures taken from year 3 workings) WAGES 366 970 377 422 382 856 CONSUMABLES 18 035 19 833 21 809 WATER & ELECTRICITY 108 210 118 995 130 856 COMMUNICATION COSTS 7 800 12 000 7 800 OFFICE EXPENSES 84 000 82 800 84 240 MARKETING 42 200 34 200 34 320 REPAIRS & MAINTENANCE 33 600 INSURANCE & LICENCES 39 600 39 888 40 800 RENT/ROYALTIES 247 770 279 245 286 170 BANK CHARGES 12 000 MV EXPENSES 7 200 7 800 VAT 200 616 220 841 242 666 1 168 001 1 238 024 1 284 916 PROFIT BEFORE COST OF CAPITAL 134 519 193 916 289 351 COSTS OF CAPITAL NET PROFIT 134 519 193 916 289 351

8. Trading, Profit & Loss Account Year 42015 Year 520165YEARS Workings€€ €€€ € %Ratio SALES (taken from year 4 workings) 2 398 320 (taken from year 5 workings) 2 589 052 10 955 049 100%sales 2 398 320 2 589 052 10 955 049 100% COST OF SALES OPENING STOCK 76 400 80 400 0 PURCHASES 671 530 724 934 3 067 414 747 930 805 334 3 067 414 CLOSING STOCK 80 400 667 530 84 400 720 934 84 400 2 983 014 27% cost of sales GROSS PROFIT GP MARGIN OF 78% 1 730 790 GP MARGIN OF 78% 1 868 117 7 972 035 73% GP Margin OPERATING EXPENSES (figures taken from year 4 workings) (figures taken from year 5 workings) WAGES 390 214 401 290 1 918 752 CONSUMABLES 23 983 28 480 112 140 WATER & ELECTRICITY 143 899 155 343 657 303 COMMUNICATION COSTS 7 800 43 200 OFFICE EXPENSES 87 840 88 800 427 680 MARKETING 40 800 45 000 196 520 REPAIRS & MAINTENANCE 36 000 172 800 RENT/ROYALTIES 293 786 300 489 714 564 INSURANCE & LICENCES 42 600 44 400 900 185 BANK CHARGES 14 400 64 800 MV EXPENSES 7 800 37 800 VAT 264 923 284 484 1 213 531 1 354 046 1 414 286 6 459 274 PROFIT BEFORE COST OF CAPITAL 376 744 453 831 1 512 761 14%P Margin COSTS OF CAPITAL NET PROFIT 376 744 453 831 1 512 761 14% NP Margin

9. PIZZA FACTORY CO. LTD. Consolidated workings for period 2012-2016 Trading, Profit & Loss Account Year 12012 Year 22013 Year 32014 Workings€€ €€ €€ SALES (taken from year 1 workings) 1 430 200 (taken from year 2 workings) 1 544 616 (taken from year 3 workings) 1 621 847 1 430 200 1 544 616 1 621 847 COST OF SALES OPENING STOCK 0 10 000 12 000 PURCHASES 400 456 432 492 454 117 400 456 442 492 466 117 CLOSING STOCK 10 000 390 456 12 000 430 492 14 000 452 117 GROSS PROFIT GP MARGIN OF 76% 1 039 744 GP MARGIN OF 75% 1 114 124 GP MARGIN OF 74% 1 169 730 OPERATING EXPENSES (figures taken from year 1 workings) (figures taken from year 2 workings) (figures taken from year 3 workings) WAGES 308 712 315 175 321 239 CONSUMABLES 28 604 30 892 32 437 WATER & ELECTRICITY 85 812 92 677 97 311 COMMUNICATION COSTS 1 800 OFFICE EXPENSES 90 709 92 562 94 175 MARKETING 8 000 9 000 REPAIRS & MAINTENANCE 26 400 30 000 31 200 INSURANCE & LICENCES 15 600 21 600 15 840 BANK CHARGES 5 400 MV EXPENSES 3 600 3 900 VAT 205 935 219 472 230 540 780 572 822 179 842 841 PROFIT BEFORE COST OF CAPITAL 259 172 291 945 326 889 COSTS OF CAPITAL RENT 83 880 84 960 83 880 84 960 NET PROFIT 175 292 208 065 241 929

10. Trading, Profit & Loss Account Year 42015 Year 52016 5YEARSTotals Workings€€ €€€€%Ratio SALES (taken from year 4 workings) 1 702 939 (taken from year 5 workings) 1 788 086 8 087 688100%sales 1 702 939 1 788 086 8 087 688100% COST OF SALES OPENING STOCK 14 000 16 000 0 PURCHASES 476 823 500 664 2 264 553 490 823 516 664 2 264 553 CLOSING STOCK 16 000 474 823 18 000 498 664 18 000 2 246 55328%cost of sales GROSS PROFIT GP MARGIN OF 74% 1 228 116 GP MARGIN OF 74% 1 289 422 5 841 13572%GP Margin OPERATING EXPENSES (figures taken from year 4 workings) (figures taken from year 5 workings) WAGES 326 501 332 621 1 604 248 CONSUMABLES 34 059 35 762 161 754 WATER & ELECTRICITY 102 176 107 285 485 261 COMMUNICATION COSTS 1 980 2 040 9 420 OFFICE EXPENSES 95 694 97 440 470 579 MARKETING 10 800 47 600 REPAIRS & MAINTENANCE 30 000 31 200 148 800 INSURANCE & LICENCES 16 560 16 920 86 520 BANK CHARGES 5 400 16 950 38 550 MV EXPENSES 4 080 4 200 19 380 VAT 242 281 254 529 1 152 757 869 530 909 748 4 224 870 PROFIT BEFORE COST OF CAPITAL 358 586 379 674 1 616 26620%P Margin COSTS OF CAPITAL RENT 85 200 85 440 423 360 85 200 85 440 423 360 NET PROFIT 273 386 294 234 1 192 90615%NP Margin