Grand Harbour Marina plc, which last week sold 30 per cent of its shareholding to members of the public, has announced the shares allocation policy.

Subscribers who applied to buy up to 40,000 shares will receive the full allocation. Those who applied to buy more than 40,000 shares will receive 40,000 shares and 68.1 per cent of the balance, rounded off to the nearest 100 shares. Refunds, where applicable, will be paid by Wednesday.

All those who applied to buy shares will receive a letter from the company with explanatory details.

HSBC Bank Malta acted as manager, registrar, sponsor and underwriter to the share offer, while GlobalCapital was co-sponsor.