The Company is pleased to announce the allocation policy to be applied to applications received in respect of its €13,000,0000 6% Notes 2020/2023 (the “Issue ”) offered by the Company pursuant to the €20,000,000 note programme. Subscription lists closed on Monday 23 September 2013 due to heavy over-subscription. As announced in Company Announcement No 82 on the 24 September 2013, the Issue consisted of an offer of €13,000,000. Notes offered initially by way of a pre-placement in the amount of €7,800,000 on 19 September 2013 followed by a general public offer in the amount of €5,200,000 opening on 23 September 2013.

The response has been overwhelming and a total of 3,845 applications were received by 23 September 2013 for participation in the general public offer representing a total value of €55,467,700. As a result of this response, the Company will be adopting the following allocation policy:

• Applicants who applied for less than €15,000 shall receive an allocation of €300 (in nominal value) and 6.1800% of the application amount (rounded to the nearest 100); and
• Applicants who applied for €15,000 or more shall receive 8.5520% of the application amount (rounded to the nearest 100).

Interest on the Notes will accrue as from 11 October 2013. Refunds of unallocated monies will be effected by not later than 7 October 2013. The Issuer thanks the investing public, institutional investors and the financial intermediaries for their strong support for the Issue.

View the Company Announcement published on the Malta Stock Exchange here