6.25% Tumas Investments plc 2014

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Tumas Investments plc - Prospectus 10th June 2009

The Company

Tumas Investments plc is a fully owned subsidiary of Tumas Group Company Ltd. and was set up to act as a finance company. The Tumas Group has expanded significantly since its founding in the mid-1970’s by the late Chev. Thomas Fenech. It is today one of the largest private business groups in Malta comprising various companies active in the hospitality, leisure, tourism, property and automotive sectors. Tumas Investments plc is the finance vehicle of Spinola Development Company Limited. Tumas Investments also helps to refinance existing credit facilities enabling SDC to exploit its potential and seize new opportunities arising in the market.

Security & Status

Unsecured & Unsubordinated

Guarantor

Spinola Development Company Limited (SDC) is the guarantor of the bonds and was incorporated on 10 May 1966. It became a fully-owned subsidiary of Tumas Group Company Ltd in 1986. The site occupying the Portomaso project was initially acquired from the Government on a temporary emphyteusis for 150 years which commenced on 19 May 1964. It was previously occupied by the Malta Hilton International Hotel up to February 1996 when the hotel was demolished to pave the way for the extensive redevelopment of the area. In December 2005 the temporary emphyteusis was redeemed with the freehold title of the site encompassing the project being acquired by SDC. The business of SDC comprises the development and operation of the Portomaso project. SDC owns 100% of the share capital of Portomaso Leasing Company Limited (which focuses on the leasing of the long term commercial and office components of the Portomaso project) and 100% of the share capital of Halland Developments Company Limited.

Coupon

6.25%

Amount Issued

€25,000,000

ISIN Code

MT0000231226

Interest Payment

Semi-annually on 31 January and 31 July

XD Date

12 January and 13 July

Maturity

The Bonds will be redeemed early on 31 July 2014.

Listing

Official List

No. of Bondholders

3,167

Directors

George Fenech, Raymond Fenech, Lino Spiteri, Ray Sladden, Michael Grech.

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