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The other two Maltese Streamcast companies have the same €240 in paid-up share capital and the same Indian national (along with a lawyer) as shareholders. Nexia BT would be familiar with this individual given that they were shareholders with him in another related venture, Turmeric Company Limited (Malta), an Indian weddings and events company – but that would probably be another story. The sole director, shareholder and company secretary of this company is, according to the Maltese registry of companies, an Indian individual purporting to reside in what looks (from the outside) like a derelict flat in Mellieha without a number. ”Īccording to a reply to a parliamentary question, the Maltese company that leased out the Enemalta data centre and generally took on the “€5 million investment” is Streamcast Limited, a company with €240 in paid-up share capital. Nexia BT states: “ Secondly, Streamcast Technologies Holdings Limited never acquired any shares in the Malta-based Streamcast Group and never had any participation in the investment made in Malta as can be easily verified by an online search of the ownership of the Streamcast group companies on the website of the Malta Business Registry as highlighted below. These are matters ignored by this statement.

Generally, did Nexia BT, Capital Knight Limited or the latter’s shareholders benefit directly or indirectly from Enemalta and/or Malta Enterprise and/or the Ministry for Tourism’s support (including financial, notably for the Malta India Film Festival at which Nexia BT partners spoke on behalf of Streamcast Studios) as well as overt promotion of Streamcast?.Were any other funds (not arising from the sale) received by Nexia BT, Capital Knight Limited or the latter’s shareholders in relation to Streamcast’s Maltese venture?.Did Capital Knight Ltd (the company as opposed to Nexia BT or Capital Knight Limited’s shareholders) receive any funds from the sale?.

This is not addressed in Nexia BT’s statement nor are the following scenarios:

Capital Knight Limited (Malta), the company owned by Nexia BT partners, was placed into voluntary dissolution effective 31 December 2018.Ĭapital Knight Ltd’s balance sheet or statement of affairs (as filed upon dissolution) does not refer to its 400,000 shares in Streamcast Technologies Holdings Limited which were acquired in June 2018.

Streamcast Technologies Holdings Limited (Ireland), in which Capital Knight Limited invested, was abandoned and is now dissolved after failing to make statutory filings and the resignation of its Irish service providers.

”įollowing the sale of a number of Streamcast Group companies (and the transfer of its employees) to Iris Mediaworks in early 2019: For now, we’ll address Nexia BT’s replies: Nexia BT states: “ Firstly, Nexia BT and the shareholders of Capital Knight Limited deny ever receiving any funds directly or indirectly from the sale of any Streamcast company as insinuated in the article. There is more to this story (some of which raise serious doubts about Malta Enterprise’s “due diligence”, the arm’s length nature of the deals and Konrad Mizzi / his Ministry’s involvement in the Malta India Film Festival organised by Streamcast). The replies provided by Nexia BT ignore that key question. For this reason, we are addressing the points raised by Nexia BT (you can read the investigation here).įirst and foremost though, the primary question posed by the article was: What on earth are Nexia BT parties (through Capital Knight Ltd) doing as shareholders in Streamcast Group, a venture which came from nowhere and received the ‘blessing’ of each of Enemalta plc, Malta Enterprise as well as the Ministry for Tourism (Konrad Mizzi)? The Shift did state that it was not in agreement with the statements made by Nexia BT on revelations made public in the article titled ‘ Nexia BT’s Brian Tonna and Karl Cini cashed in on taxpayer-funded scam’. Nexia BT sent a statement to The Shift as a Right of Reply, which was published in full as required by law.