United Finance plc said its 6.75 per cent 2014-2016 bonds which were open for subscription between 10 and 17 July 2008 was over-subscribed, and it has elected to exercise the over-allotment option and issue a further €2,000,000 bonds, taking the aggregate bond issue up to €12,000,000.

The company accepted all applications in full, except for large subscriptions received from institutional investors. These have been scaled down proportionately and such investors have been allocated 81.5 per cent of the amount applied for. 72 per cent of the 6.75 per cent 2008 bond holders opted to settle the consideration payable by the surrender of their maturing bonds. In the next few days they will receive the interest due on the maturing bonds up to and including 23 July, 2008.

Interest payable on the new 6.75 per cent 2014-2016 Bond will start to accrue with effect from 24 July, 2008 and trading on the Malta Stock Exchange is expected to commence on 25 July. Trading of the 2008 6.75 per cent bond, which had been suspended throughout the period of this issue, is also expected to resume on 25 July.