On 5 May, 6pm Holdings plc announced its allocation policy with respect to the rights issue of 10,788,000 new ordinary shares at a price of GBP0.25 per share. The Directors explained that the acceptance forms received from eligible shareholders who have subscribed to their proportionate entitlement and excess shares or part thereof have been accepted in full. Rights transferred by eligible shareholders to third parties were also accepted in full.
Subscription agreements received from collecting agents in the Intermediaries Offer will be allocated 94.73% of the amount subscribed.
The announcement also confirmed that in line with the Prospectus dated 28 March 2011, the subscriptions by Ivan Bartolo (1,043,791 shares), Brian Zarb Adami (1,044,209 shares) and Vassallo Builders Group Ltd (3,400,000 shares) have also been received and accepted in full.
Registration advices and refunds of unallocated monies will be processed on Tuesday 10 May. Subsequently the new shares will be listed on the Official List of the Malta Stock Exchange on Wednesday 11 May with trading expected to commence on Thursday 12 May.