Gasan Finance Company plc - Allocation Policy

On 25 November, Gasan Finance Company plc issued the allocation policy in connection with the recent €25 million 4.9% bond issue.

The allocation policy is as follows:

i) The Company received 2,184 applications totalling €15,168,200 from existing bondholders of the maturing 6% bonds electing to swap their existing holding for an equivalent amount in the new bonds. These applications were satisfied in full.

ii) The Company also allocated in full the applications received from Directors and employees of the Group for a value of €389,100.

iii) Existing bondholders applied for a further €14,215,200. In view of the fact that only €5,469,600 remained available for preferred applicants, the Company allotted 38.3621% of such amounts rounded to the nearest €100 nominal. The unsatisfied balance was carried forward to the general public offer.

iv) The Company received a further 993 applications totalling €13,322,100 at the general public stage.

v) The total demand at the general public stage amounted to €22,067,700 compared to the €3,973,100 available. Gasan Finance allocated the first €1,000 plus a further 8.124% of the balance (rounded to the nearest €100 nominal).

The announcement also stated that interest on the new bonds will commence as from 2 December being the day the bonds will be admitted to the Official List. Allotment letters and refunds will also be made by 2 December.