In a reply to a report which was published on local media today, the Directors of Evolve Limited said that with regards to the recommendation by the Department of contract of €542,280, they wish to clarify that “all shares registered in the name of BCGL Services Limited are held in trust on behalf of unrelated third parties in line with MFSA trust licence."

In a statement, they added that as a result “BCGL Services Limited and its directors Peter Caruana Galizia, Andrew Borg Cardona and Peter Borg Costanzi have absolutely no beneficial interest in any profits generated by Evolve Company Limited.”