6% Gasan Finance plc 2014 – 2016

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Gasan Finance Company plc - Prospectus 7th April 2009

The Company

Gasan Finance Company plc (GFC) is a wholly owned subsidiary of Gasan Group Ltd and was set up to assist the Gasan Group in the provision of finance for its diverse operations and capital projects. GFC was the first Maltese company to tap the corporate bond market back in September 1994. The trading activities of GFC are related to the assets which have been acquired from the proceeds of its various bond issues over the years. These consist of (i) bills of exchange drawn by the Group’s Automotive Division, (ii) the 5,200 sqm ‘Gasan Centre’ in Mriehel, (iii) loans to Group companies and (iv) a number of properties within the ‘Piazzetta’ complex.

The Gasan Group is a large and well-diversified name with business interests spread over a variety of sectors and a business presence stretching back to 1928. The Group consists of a number of companies boasting a series of worldwide recognised brands. The Group’s subsidiaries operate across the following principal sectors: (i) Automotive; (ii) Engineering; (iii) Property; (iv) Insurance & Finance and (v) Investments.

Use of Proceeds

The net proceeds from the bond issue were utilised: (i) to redeem the €10.8 million 6.4% bonds; (ii) for general funding purposes of the Issuer; (iii) to refinance part of the debt of the Group Companies, and (iv) to directly or indirectly lend to the Group Companies.

Security & Status

Unsecured & Unsubordinated

Coupon

6%

Amount Issued

€20,000,000

ISIN Code

MT0000061243

Maturity

The Bonds mature on 31 May 2016 but may be redeemed early at 100% (par) at any date between 31 May 2014 and 31 May 2016 by giving not less than 30 days notice.

Interest Payment

Semi-Annually on 31 May and 30 November

XD Dates

16 May and 15 November

Listing

Official List

No. of Bondholders

3,258

Directors

Joseph A Gasan, Michael Soler, Publio Danny Rosso, Anthony Curmi, Mark Gasan, Roderick Chalmers.

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