AX Investments plc - New Bond Issue

On 20 January, AX Investments plc announced that it has submitted an application to the Listing Authority of the Malta Financial Services Authority (MFSA) requesting the admissibility to listing of €40 million in bonds redeemable in 2024 and guaranteed by AX Holdings Limited.

The announcement further explained that the net proceeds from the bond issue will be mainly used by the AX Group to develop a retirement complex in Naxxar and to finance the redemption of the existing €11.6 million 6.7% AX Investments plc bonds (Maturing Bonds) which will be redeemed early on 15 December 2014 (in accordance with the prospectus dated 28 November 2006). Holders of these maturing bonds will be given preference to subscribe to the new bonds by surrendering the Maturing Bonds.