The Malta Independent 29 February 2020, Saturday

PG Group’s majority shareholder donates €7m company shares to The Malta Trust Foundation

Thursday, 16 January 2020, 15:32 Last update: about 2 months ago

Paul Gauci, has donated €7m worth of shares from his personal 75% shareholding in PG plc. Following last July's donation of shares to Caritas and Dar tal-Providenza as part of the group's 'Caring for our Community' programme, now was the turn of another five entities to benefit from Gauci's new approach towards corporate social responsibility - The Malta Trust Foundation, Puttinu Cares, Dar Bjorn, Ursuline Homes and Fondazzjoni Sebħ. This means that these five entities will not only receive the value of the shares, but also two dividends every year.

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Speaking during a presentation this morning, Gauci said that the reason behind giving shares rather than a donation is because of the respect he has towards these entities who have and are doing so much within our society. "We remain steadfastly committed to the local community so much so that we have offered these entities a number of company shares so that they could become part of our family. The main purpose of our community programme is to recognise our responsibility to help strengthen the communities we serve, support them and recognise their efforts and contribution towards our community" said Gauci.

H.E. Marie-Louise Coleiro Preca, Chair of The Malta Trust Foundation explained that as a principle, The Malta Trust Foundation relies on turning effective collaboration between NGOs, Civil Society and the Business Sector into tangible social projects, adding that "The Malta Trust Foundation also seeks to socially and sustainably invest, in all of its social endeavours".

In this context, Coleiro Preca commended the strong sense of Corporate Social Responsibility which Gauci and his wife are showing.

"On behalf of The Malta Trust Foundation, I would like to convey our heartfelt gratitude to  Gauci and his wife, who, with their generosity are contributing to the much-needed change in the lives of children and young people who come from vulnerable backgrounds in the Maltese Islands," Coleiro Preca said.


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