Tumas Investments plc - Bond Allocation Policy

Tuesday, July 29th, 2014

On 29 July, Tumas Investments plc announced its allocation policy with respect to its recent €25 million 2024 bond issue pursuant to a Prospectus dated 7th July 2014.

A total of 3,370 applications, representing a total value of €43,278,600, were received from holders of the Maturing Bonds and holders of the 6.2% Tumas Investments plc Bonds 2017-2020 and as a result, the Intermediaries’ Offer did not take place.

A total of 2,230 holders of the Maturing Bonds opted to exchange their Maturing Bonds for a total value of €20,232,500 representing circa 81% of the 6.25% Bonds 2014-2016.  Such amounts were allocated in full.

Meanwhile, the Company received a further €10,751,800 in applications from holders of the Maturing Bonds who wished to increase their investment in the Company and 1,140 applications amounting to a total value of €12,294,300 from holders of the 6.2% Tumas Investments plc Bonds 2017-2020.  The Company decided to adopt the following allocation policy for holders of the maturing bonds as well as the 6.2% Bonds 2017-20:

– All applications were allocated the first €1,000 in full;
– Amounts in excess of €1,000 were allocated a further 10.55% of the balance subject to rounding to the nearest €100.

Refunds of unallocated monies will be affected by not later than next Tuesday 5th August 2014. The 2024 Bonds will be admitted to listing on the Malta Stock Exchange on 31st July 2014 and trading will commence on 1st August 2014. Interest on the 2024 Bonds will accrue with effect from and including 31st July 2014.

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