MIDI plc - Allocation Policy

On 20 January, MIDI plc announced its allotment policy in respect of its recent €40 million bond issue. The company received over 2,600 applications for the euro and sterling 7% bonds. MIDI stated that it will be allotting bonds as follows:

(i) Applications having a nominal value up to and including €100,000 or GBP87,000 will be met in full;

(ii) Those applications with a nominal value in excess of €100,000 or GBP87,000, will be alloted as follows: the first €100,000 or GBP87,000 will be met in full while 66.59% of the remaining portion will be allotted.

The Company also stated that all allotments will be rounded to the nearest €100 or GBP100.

The final allocations will result in the listing of €31.7 million (nominal) 7% EUR Bonds 2016/18 and GBP7.2 million (nominal) 7% GBP Bonds 2016/18.

Registration advices by the Malta Stock Exchange will be mailed next Friday 23 January and any refunds of any unallocated monies will also be made next Friday 23 January by direct credit to the bank account indicated on the respective application forms. Meanwhile interest on the Bonds will commence as from today.

Trading in both euro and sterling bonds is expected to commence on Monday 26 January.

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