The board of the Grand Harbour Marina p.l.c. have expressed confidence that, save for unexpected circumstances, the issue of the €10,000,000 bonds together with the over-allotment option of a further €2,000,000 bonds, is likely to be subscribed immediately upon the opening of the issue period tomorrow.

The company statement was made in the wake of the company receiving applications substantially in excess of the preferred portion of €6,000,000 bonds, which in terms of the prospectus, were reserved for authorised financial intermediaries for the benefit of their clients and a further €1,000,000 bonds for the benefit of preferred applicants.