QLZH Co-Founders Steve and Michael Mercieca open up on ‘transformative’ bond issue

QLZH’s successful entry into Malta bond market did more than raise finance for the group – it “elevated internal standards” and “introduced a more structured, investor-facing mindset,” according to Co-Founders Steve and Michael Mercieca, who believe the changes are “essential” for its next phase of growth.

“The process was transformative,” Steve, the CEO, tells MaltaCEOs.mt. “It pushed us to adopt higher governance standards, formalise structures, and streamline reporting across the group.”

The €6.8 million issue is the first tranche of a €12 million programme intended to fuel the group’s foray into property development. The remaining balance is expected to be issued over the next 11 months, aligned with development milestones and the capital requirements indicated in bond prospectus.

Known as a disruptive force in the real estate sales and letting sector through its Quicklets and Zanzi Homes brands, the move into development, which will be held for rental, is intended to build long-term value while generating stable returns, says Steve.

He says the group is “very pleased” with the success of its first bond issue, which was listed on the Malta Stock Exchange last week.

Michael adds: “It is an important milestone for the group, not just financially, but also in terms of validating the market’s confidence in our long-term vision.”

He continues: “The bond issue was an opportunity for us to bring a new level of discipline, structure, and investor transparency into the group – something we strongly believe will strengthen our brand over time.”

A key step, says Michael, was the appointment of Non-Executive Directors to the Board, as well as the appointment of the audit committee.

The current Board, which now includes a strong mix of executive and independent non-executive directors, consists of:

• Francis Galea Salomone (Chairman of the Board, Member of the Audit Committee) – a seasoned lawyer with experience in advising listed companies on corporate governance and regulatory matters.
• Stephen Mercieca – Co-Founder and CEO of the Group.
• Michael Mercieca – Co-Founder and Finance Director, a chartered accountant and former senior manager at Deloitte.
• Luke Coppini (Chairman of the Audit Committee) – finance executive and former CEO of a number of development companies, with extensive real estate and capital markets experience.
• Edward Cachia (Member of the Audit Committee) – senior executive in the fintech and gaming industries.