Following the overwhelming demand for the e20 million 6.25 per cent Bond 2014-16, which closed immediately after it opened on 3 July, the Board of Directors of Tumas Investments exercised the over allotment option – increasing the Bond Issue to e25 million.

The Bond allotment policy was announced on Friday.

A total of 3,429 applications were received for a total of e37.15 million, approximately 50 per cent over and above the full Bond Issue. Applications at the pre-placement stage, which closed on 1 July, already stood at e34.3 million, substantially over the limit set for pre-placement which was e15 million.

A total of 2,782 general public offer applications were allotted as follows:

Applications up to e3,500 or 38 per cent of applications were allotted in full.

Applications for amounts between e3,600 and e100,000 had their first e3,500 accepted in full and were then allotted 12 per cent of the remaining balance.

Applications between e100,100 and e500,000 had the first e5,000 accepted in full and were then allotted 10 per cent of the remaining balance.

Applications over e500,000 had their first e5,000 accepted in full and were then allotted 7.35 per cent of the remaining balance.

Interest on the bonds commenced on 10 July, and despatch of allotment advices and refunds of unallocated monies will be made by 17 July. It is expected that the bonds will be listed on the Official List of the Malta Stock Exchange on 22 July at the latest, with

trading commencing the

following day.