Grand Harbour Marina bonds issue

The Grand Harbour Marina plc has announced the basis of acceptance for the €15,000,000 Grand Harbour Marina p.l.c. 4.50% Unsecured Bonds 2027.

In terms of the Prospectus dated 26 June, the Bonds were available for subscription by holders of the 7% Grand Harbour Marina p.l.c. 2017- 2020 bonds, by holders of shares in the company and Selected Authorised Financial Intermediaries through an Intermediaries’ Offer.

The company received a total of 1,285 applications for an aggregate value of €15,832,300, which were allocated as follows: Redemption Bondholders Applications for an aggregate value of €8,869,200 were received for the €11,000,000 Bonds reserved for the Redemption Bondholders.

In accordance with the terms of the Prospectus, the balance of the Bonds not subscribed to by the Redemption Bondholders equal to €2,130,800 was reserved for subscription by Selected Authorised Financial Intermediaries through an Intermediaries’ Offer. Existing Shareholders Applications for an aggregate value of €2,832,300 were received for the €2,000,000 Bonds reserved for the Existing Shareholders.

Each application received from Existing Shareholders was allocated the first €20,000 in full and 21.78% on the remaining balance rounded to the nearest €100. The remaining amount of €832,300 remained unallocated.

Refunds of unallocated monies will be made by 22 August.

Authorised Financial Intermediaries

The Selected Authorised Financial Intermediaries were allocated the remaining €2,000,000 reserved for them and the balance of the bonds not subscribed to by the Redemption Bondholders.

Interest on the bonds will commence on 22 August. The bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on 22 August and trading is expected to commence on 23 August.