On 11 August 2023, ClearFlowPlus plc announced the basis of acceptance and allocation policy in relation to the offer of €25 million 4.25% unsecured bonds redeemable in 2033.
ClearFlowPlus explained that as at 1 August 2023, it received applications for a total value of €29.5 million. As a result of the over-subscription, the offer was closed ahead of schedule.
Applications submitted by Preferred Applicants for a fixed amount of €5,000 per application will be allotted in full.
With respect to other applications, the Company will be allocating the first €50,000 of each application in full, and 50.59% on any additional amount applied for thereafter, rounded to the nearest multiple of 100.
Refunds of unallocated amounts will be made by 21 August 2023. The new bonds are expected to be admitted to listing on the Green Bond List of the Malta Stock Exchange on 21 August 2023 and trading is expected to commence on 22 August 2023.
Interest on the new bonds commenced accruing on 11 August 2023 and will be payable annually in arrears on 25 August, with the first interest payment (covering the period from 11 August 2023 up to and including 24 August 2024) payable on 25 August 2024.