International Hotel Investments plc - Allocation Policy

On 2 June, Island Hotels Group Holdings plc announced its allocation policy with respect to its recent €35 million 6% bond offering which was heavily oversubscribed. The Company announced that it received a total of 5,767 applications representing a total value of €84.16 million.

In accordance with the terms of the Prospectus, Curmi & Partners Ltd and Rizzo Farrugia & Co. (Stockbrokers) Ltd were each allocated €5 million of the bonds.

The Company received a total of 114 applications from its shareholders representing a total value of €5 million compared to the €2.5 million available for this category of investors. As such, the Company allotted the first €100,000 in full and 4.423% of the balance.

At the general public stage, apart from the unsatisfied shareholder applications of €2.55 million, the Company received a total of 5,336 applications representing a total value of €69.1 million compared to the €22.5 million on offer. As such, Island Hotels Group allotted the first €3,000 in full together with a further 12.4468% (rounded to the nearest €100) of the remaining balance.

The announcement also noted that refunds of unallocated funds will be affected by not later than 4 June and interest on the Bonds will start accruing from Monday 9 June. Meanwhile, the bonds will be admitted to the Official List of the Malta Stock Exchange on Monday 9 June with trading expected to commence the following day.