Finestday Malta p.l.c. was incorporated on 8 June 2023 and acts as a finance company for Projectco 2024 Limited. As a result, the Issuer is totally dependent on the operations, performance, and prospects of the Guarantor and its other subsidiaries. Projectco 2024 Limited was incorporated on 16 December 2024 and is the holding company of the Group, whose purpose is to invest in the ownership of hospitality assets in Manchester, UK. The Group traces its origins to 2014, when the historic Stock Exchange building in Manchester was acquired by Gary Neville and Ryan Giggs, both former professional footballers with Manchester United Football Club, through Finestday Limited (“Finestday UK”). The founders’ vision was to redevelop the property into a luxurious five-star hotel. Following completion of the planning process, construction works commenced in late 2017.
In 2018, Winston J. Zahra, a Maltese hotel entrepreneur, joined the ownership structure of the project, contributing additional capital and hospitality expertise. Works on the Stock Exchange Hotel were completed in 2019 and the hotel commenced operations in November 2019, shortly before having to temporarily shut down normal operations due to the COVID-19 pandemic. After resuming full operations, the Stock Exchange Hotel established itself as one of Manchester’s leading premium hotels, hosting numerous high-profile events and guests.
In 2024, the Group’s shareholders identified an opportunity to acquire Norfolk House – an office building located directly opposite the Stock Exchange Hotel. The acquisition was concluded in March 2025 and was undertaken with the strategic objective of expanding the Stock Exchange Hotel’s room inventory, thereby enhancing its brand presence, and creating significant operational efficiencies through synergies and economies of scale. The acquisition was completed with the participation of Iridium SICAV p.l.c. – a collective investment scheme incorporated and registered in Malta – which provided the necessary funding for the purchase of the property. Today Iridium SICAV p.l.c. own the majority shares of the company together with Winston J. Zahra and Ryan Giggs.
The operations of the Group are managed by TROO Hospitality, a white label management company founded by Winston J. Zahra that also operates a large portfolio of hotels across the UK.