MIDI plc - Bond Issue Oversubscribed

MIDI plc announced on 13 January that its bond issue closed due to over subscription shortly after the opening of the General Public offer. Following yesterday’s preplacement which was over-subscribed by 2.54 times as total demand exceeded €30 million, MIDI reported that there was also a strong response from the General Public and as a result it exercised its over allotment option of a further €10 million. The bond issue was therefore increased to a total value of €40 million. MIDI plc is expected to announce its allocation policy next Tuesday 20 January when the interest on the bond is also expected to start accruing. The company is also expected to refund any unallocated monies by 27 January 2009 while trading in both the euro and sterling bonds is expected to take place shortly afterwards.

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