International Hotel Investments plc - Allocation Policy

Tuesday, December 18th, 2012

On 17 December, International Hotel Investments plc announced the allocation policy in connection with the recent issue of €20 million 5.8% bonds maturing in 2021. As already announced on 10 December 2012, the bond issue was oversubscribed with applications amounting to a total of €26.54 million.

In view of the oversubscription, the Company adopted the following allocation policy:

i) All preferred applications by maturing bondholders for the amount originally held in the maturing bonds together with the rounding up to the nearest €100 were accepted in full.

ii) Applications by maturing bondholders in excess of their preferential allocations will be allocated the first €1,000 in full and 26.23% of the balance, rounded to the nearest €100.

iii) The subscriptions received through the intermediaries’ offer will be allotted the first €1,000 in full and 26.23% of the balance (rounded to the nearest €100) per intermediary.

Interest on these bonds commenced on 17 December. Dispatch of allotment advices and refunds of unallocated monies (where applicable) will be made by not later than 24 December.

Listing of the new bonds is expected to take place on Thursday 27 December with trading scheduled to commence the following day being the 28 December. Also on 28 December, trading in the 6.3% and 6.8% maturing bonds which will be redeemed on 15 February 2013, is also expected to resume.

 

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