Tumas Investments plc - New Bond Issue

Tumas Investments plc announced a new €20 million bond issue at a coupon of 6.25% per annum. The bonds have a final maturity date of 31 July 2016 but may be redeemed anytime between 31 July 2014 and 30 July 2016. The Issuer also reserves the right to increase the amount up to a further €5 million in the event of over-subscription. Interest is payable semi-annually on 31 January and 31 July of each year with the first payment date being 31 January 2010.

The bonds are guaranteed by Spinola Development Company Ltd, the owner and operator of the Portomaso project which incorporates the Hilton Malta hotel and various commercial amenities. The proceeds from the bond issue will be advanced to the guarantor and mainly used to refinance existing banking facilities.

A pre-placement exercise is taking place on Wednesday 1 July 2009. Minimum subscriptions at pre-placement stage are of €10,000 (nominal) and in multiples of €100 thereafter. Meanwhile subscriptions for the General Public Offer open on Friday 3 July and close on Wednesday 8 July or earlier in the event of over-subscription. Applications during the General Public offer are for a minimum of €2,000 (nominal) and also in multiples of €100 thereafter.

Tumas Investments plc has submitted an application for the new bonds to be admitted to the Official List of the Malta Stock Exchange.

For further information on the bond issue and the Tumas Group, investors are requested to consult the Prospectus or the Presentation. Those investors who wish to purchase some bonds may download an application form and submit to our office accompanied by payment.

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