CONVERSION OF EURO 150,000,000 OUT OF THE EURO 287,014,800 3.60% MALTA GOVERNMENT STOCK 2013 (IV) INTO AN AGGREGATE OF EURO 150,000,000 [ S.L.161.92 1 SUBSIDIARY LEGISLATION 161.92 DIRECTIVE BY THE MINISTER OF FINANCE, THE ECONOMY AND INVESTMENT FOR THE CONVERSION OF EURO 150,000,000 OUT OF THE EURO 287,014,800 3.60% MALTA GOVERNMENT STOCK 2013 (IV) INTO AN AGGREGATE OF EURO 150,000,000 IN ANY ONE OR ANY COMBINATION OF THE 3.75% MALTA GOVERNMENT STOCK 2017 (IV) FUNGIBILITY ISSUE AND 3.85% MALTA GOVERNMENT STOCK 2018 (V) 4th December, 2012 LEGAL NOTICE 428 of 2012. The Minister of Finance, the Economy and Investment has declared Euro 150,000,000 out of the Euro 287,014,800 3.60% Malta Government Stock 2013 (IV) which is due for repayment on the 18th October, 2013 to be convertible into registered stock to be issued under the provisions of the Ordinance. Declaration and authorisation. The Minister has also authorised in terms of articles 31 (
- b)and 32 of the same Ordinance that, for the conversion of Euro 150,000,000 out of the Euro 287,014,800 3.60% Malta Government Stock 2013 (IV), the issuance of: (
- a)3.75% Malta Government Stock 2017 (IV) Fungibilty Issue; and a new (
- b)3.85% Malta Government Stock 2018 (V) hereinafter the ‘Destination Stocks’ (Conversion Stocks) be created and issued as follows: 1. The Destination Stocks (Conversion Stocks) shall be issued as set out in the prospectus. Mode of issuing stock. 2. All stockholders of 3.60% Malta Government Stock, 2013 (IV) are eligible to apply for any or each of the two Stocks. Allotment of these stocks will be made as set out in the prospectus. Allotment policy. 3. In terms of the Financial Markets Act, when these Stocks have been allotted, an application shall be made for these Stocks to be admitted to the official list and trading on the Malta Stock Exchange. Trading on the Malta Stock Exchange, Cap. 345. 4. On the 20th February, 2013 after payment of the first interest instalment as indicated in article 6
(1), any amount allotted under the 3.75% Malta Government Stock 2017 (IV) Fungibility Issue (Destination Stock) shall be merged with the existing issue of the 3.75% Malta Government Stock 2017 (IV) and thereafter shall be deemed to be one Stock.
- The amount to be created and issued by either of the Destination Stocks (Conversion Stocks), or any combination of the Merger of Fungibility Issue. Amount of Stock to be issued for conversion. 2 [ S.L.161.92 CONVERSION OF EURO 150,000,000 OUT OF THE EURO 287,014,800 3.60% MALTA GOVERNMENT STOCK 2013 (IV) INTO AN AGGREGATE OF EURO 150,000,000 two Destination Stocks (Conversion Stocks) shall in the aggregate be Euro 150,000,
- Rate of interest and dates of payment. 6.
(1)Interest at the rate of 1.875% for every Euro 100 in respect of the 3.75% Malta Government Stock 2017 (IV) shall be payable half-yearly in arrears on the 20 th of February and the 20 th of August in every year during the duration of the Stock. The first interest payment of Euro 1.875 for every Euro 100 stock covering the period from the 20 th August, 2012 to 19 th February, 2013 (both dates inclusive), shall be made on the 20th February, 2013.
(2)Interest at the rate of 1.925% for every Euro 100 in respect of the 3.85% Malta Government Stock 2018 (V) shall be payable half-yearly in arrears on the 18th of April and the 18th of October in every year during the duration of the Stock. The first interest payment of Euro 1.925 for every Euro 100 Stock covering the period from the 18th October, 2012 to 17 th April, 2013 (both dates inclusive), shall be made on the 18th April, 2013. Redemption of Stock. 7.
(1)The 3.75% Malta Government Stock 2017 (IV) shall be redeemed at par on 20 th August, 2017.
(2)The 3.85% Malta Government Stock 2018 (V) shall be redeemed at par on 18 th April, 2018.