Izola Bank plc - Allocation Policy

On 16 June, Izola Bank plc published the allotment policy in respect of its recent issue of €12 million 4.5% unsecured bonds.

Applications from holders of Maturing Notes amounted to €8.3 million representing 92.57% of the outstanding Notes that will be redeemed on 30 June 2015. Such applications were allocated in full. A further €3 million was taken up by Authorised Financial Intermediaries through the Placement Agreement. The remaining balance of €0.67 million was also taken up by Authorised Financial Intermediaries through the Intermediaries’ Offer.

The announcement also explained that interest on the Bonds will commence on 30 June 2015 which will also coincide with the listing of the Bonds on the Malta Stock Exchange. Trading is expected to commence as from 1 July 2015.