PTL Holdings plc has announced that during the Extraordinary General Meeting held on the 7th December, it was resolved:

1. To increase the authorized share capital of the company from €10,000,000 divided into ten million Ordinary shares of €1.00 each in nominal value, to €36,000,000 divided into 36,000,000 Ordinary shares of €1.00 each in nominal value;

2. To change the name of the company from 'PTL Holdings plc' to '1923 Investments plc';

3. To substitute the Memorandum and Articles of Association of the company in their entirety to give effect to the increase in authorized share capital and name change as contemplated above;

4. To authorise any company director or the company secretary to issue and file with the relevant authorities certified true copies of the revised Memorandum and Articles of Association of the company as well as other statutory documents to give effect to the resolutions as contemplated above;

5. To acknowledge and accept the resignation tendered by Carmelo Hili from the office of director and chairman of the company, and to approve the appointment of

(i) Carmel sive Charles Borg

(ii) Richard Abdilla Castillo and

(iii) Margrith Lutschg-Emmenegger to the company's board of directors