Grand Harbour Marina plc - Allocation Policy

Wednesday, August 16th, 2017

On Monday 14 August 2017, Grand Harbour Marina plc announced the allocation policy with respect to the recently issued €15 million 4.5% unsecured bonds maturing in 2027. In total, the Company received 1,285 applications for an aggregate value of just over €15.8 million.

Existing holders of the 7% Grand Harbour Marina plc 2017/20 bonds who exercised their preference to exchange their respective maturing bonds with the new bonds amounted to nearly €8.87 million, representing 80.85% of the maturing bonds. These applications were allocated in full.

GHM also received applications for a total of €2.83 million from eligible shareholders. A total of €2 million was reserved for shareholders and as such the first €20,000 were allocated in full coupled with 21.78% of any remaining balance rounded to the nearest €100. Refunds of unallocated monies amounting to €0.83 million will be made by 22 August 2017. In addition, selected Authorised Financial Intermediaries were allocated a total of €4.13 million, comprising the €2 million reserved pot plus the balance of the bonds not subscribed for by holders of the maturing bonds (€2.13 million).

Interest on the new bonds will commence on 22 August 2017. The new bonds are expected to be admitted to listing on the Malta Stock Exchange on 22 August 2017 and trading is expected to commence on 23 August 2017.

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