Pama supermarket boss donates €7m in shares to Maltese charities
PG Group boss Paul Gauci donates shares from his personal shareholding to seven charities
The majority shareholder in the PG Group, Paul Gauci, has donated €7m in company shares to Maltese charities and foundations.
The PG Group operates Mosta’s popular supermarket Pama and the Pavi supermarket in Qormi, as well as Zara in Malta, which occupies the largest retail space for any European outlet of the fashion chain.
Gauci donated the 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.
“This is not simply a donation,” Gauci said “but shares which these charities deserve for the good they do to the community. I want them to be part of the PG family.”
President Emeritus Marie Louise Coleiro Preca, chair of the Malta Trust Foundation, praised Gauci’s commitment.
“As a principle, The Malta Trust Foundation relies on turning effective collaboration between NGOs, civil society and the business sector into tangible social projects. The Malta Trust Foundation also seeks to socially and sustainably invest, in all of its social endeavours.
“In this context, I would like to commend the strong sense of Corporate Social Responsibility which Mr Paul Gauci and his wife are showing. On behalf of The Malta Trust Foundation, I would like to convey our heartfelt gratitude to Mr 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.”