Tumas Investments plc - Allotment Policy

On 10 July, Tumas Investments plc announced its allotment policy in respect of its recent bond issue. The company received 2,429 applications for its 6.25% bonds and was heavily oversubscribed with total demand exceeding €37 million. As a result of the significant excess demand, Tumas Investments exercised its over-allotment option of a further €5 million and increased the bond issue to a total of €25 million.

The allocation policy has been determined as follows:

(i) Applications having a nominal value up to and including €3,500 will be met in full;

(ii) Applications having a nominal value between €3,600 and €100,000 will be allotted as follows: the first €3,500 in full with 12% of the remaining portion;

(iii) Applicants who applied for a value of between €100,100 and €500,000 will be allotted as follows: the first €5,000 will be met in full while 10% of the balance will be allotted;

(iv) Meanwhile those applicants who subscribed for bonds in excess of €1 million will be allotted the first €5,000 in full and 7.35% of the balance.

The Company also stated that all allotments will be rounded down to the nearest €100. Registration advices by the Malta Stock Exchange will be mailed by next Friday 17 July and refunds of unallocated monies will also be made next Friday 17 July by direct credit to the bank account indicated on the application form. Meanwhile interest on the bonds will commence as from today. Trading in the Tumas bonds is expected to commence by Thursday 23 July.

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