Premier Capital plc - Allocation Policy

On 1 April Premier Capital plc announced the allocation policy with respect to its recent €20 million 2017-2020 bond issue. The Group explained that it exercised its over-allotment option and increased the bond issue to €25 million following the strong demand from investors. The Premier Group stated that it received a total of €35.94 million from 3,713 applications – €10.94 million in excess of the maximum aggregate amount of €25 million.

In accordance with the terms set of in the Prospectus, the Company had reserved €12.5 million for those investors who applied during the pre-placement stage. As amounts received at this stage amounted to €35.02 million, the Group only satisfied circa 35.7% of the amount applied.

Meanwhile, a further 3,078 applications totaling €23.44 million were received during the General Public stage for the remaining balance on offer of €12.5 million and as a result, Premier announced the following allocation policy:

  • Applications up to €3,000 will be met in full – thereby satisfying 35.74% of all applications received during the General Public offer;
  • Applications of amounts up to and exceeding €3,100 will be allotted the first €3,000 in full and a further 23.77% of the remaining balance.

Interest on the 6.8% Bonds will start accruing as from today 1 April 2010. Meanwhile refunds of unallocated monies will be made by not later than Friday 9 April. The Bonds are expected to be admitted to the Official List of the Malta Stock Exchange on Monday 12 April with trading expected to commence on the following day.

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