ISSUE OF EURO €120,000,000 MALTA GOVERNMENT STOCKS [ S.L.161.137 1 SUBSIDIARY LEGISLATION 161.137 DIRECTIVE BY THE MINISTER FOR FINANCE FOR THE ISSUE OF €120,000,000 MALTA GOVERNMENT STOCK 25th September, 2015 LEGAL NOTICE 305 of 2015. 1. The title of this directive is Directive by the Minister for Finance for the issue of Euro 120,000,000 Malta Government Stocks. 2. An amount of Euro 120,000,000 Malta Government Stocks shall be issued as follows: 3. (
- a)2% Malta Government Stock 2020 (V) Fungibility Issue, and (
- b)2.3% Malta Government Stock 2029 (II) Fungibility Issue, or (
- c)any combination of the above two Stocks which shall in the aggregate be Euro 120,000,000. These Stocks shall be issued as set out in the prospectus. 4. All persons and, or entities are eligible to apply for these Stocks. Allotment will be applied as set out in the prospectus. 5.
(1)In terms of the Financial Markets Act, when these Stocks have been allotted, an application shall be made for the respective Stock to be placed on the official list and for trading on the Malta Stock Exchange. Citation. Issuing of Stock. Mode of issuing Stocks. Allotment Policy. Trading on the Malta Stock Exchange. Cap. 345.
(2)On the 26th March, 2016 after the payment of the first interest as indicated in article 7
(1)(a) and (b), any amount allotted under the 2% Malta Government Stock 2020 (V) F.I. shall be integrated with the existing issue of this Stock and thereafter shall be deemed to be one Stock.
(3)On the 24th January, 2016 after the payment of the first interest as indicated in article 7
(2)(a) and (b), any amount allotted under the 2.3% Malta Government Stock 2029 (II) F.I. shall be integrated with the existing issue of this Stock and thereafter shall be deemed to be one Stock.
- The sum of money to be raised by either Stock, or of any combination of the two Stocks, shall in the aggregate be Euro 120,000,
- The Accountant General reserves the right to increase the sum of money to be raised up to a maximum of Euro 60,000,
- 7.
(1)Interest at the rate of Euro 1.00 for every Euro 100 in respect of the 2% Malta Government Stock 2020 (V) shall be payable half-yearly in arrears on the 26th day of March and the 26th day of September in every year for the duration of the Stock: Sum of money to be raised. Rate of interest and dates of payment. 2 [ S.L.161.137 ISSUE OF EURO €120,000,000 MALTA GOVERNMENT STOCKS (
- a)the first pro rata interest payment in respect of the allotted amount from applications submitted by members of the public covering the period from the 12th day of October, 2015 to the 25th day of March, 2016 (both dates inclusive), shall be made on the 26th day of March, 2016; (
- b)the first pro rata interest payment in respect of the allotted amount from bids/applications submitted by institutional investors covering the period from the 14th day of October 2015 to the 25th day of March, 2016 (both dates inclusive), shall be made on the 26th day of March, 2016.
(2)Interest at the rate of Euro 1.15 for every Euro 100 in respect of the 2.3% Malta Government Stock 2029 (II) shall be payable half-yearly in arrears on the 24th day of January and the 24th day of July in every year for the duration of the Stock: (
- a)the first pro rata interest payment in respect of the allotted amount from applications submitted by members of the public covering the period from the 12th day of October, 2015 to the 23rd day of January, 2016 (both dates inclusive), shall be made on the 24th day of January, 2016; (
- b)the first pro rata interest payment in respect of the allotted amount from bids/applications submitted by institutional investors covering the period from the 14th day of October 2015 to the 23rd day of January, 2016 (both dates inclusive), shall be made on the 24th day of January, 2016. Redemption of Stock. 8.
(1)The 2% Malta Government Stock 2020 (V) shall be redeemed at par on the 26th September, 2020.
(2)The 2.3% Malta Government Stock 2029 (II) shall be redeemed at par on the 24th July, 2029.