Eden Finance p.l.c. (the “Company”) is pleased to announce the basis of acceptance for the issue of €15 million 6.6% Bonds 2017 – 2020 (the “Bond Issue”) which closed early for public subscription (the “Public Offer”) on Tuesday 1st June 2010.
As the Company had no over-allocation requirement, the Issue was closed on reaching the €15 million threshold.
At the time the Issue was closed, the Company had received 1,294 applications for the Bond Issue for a total of €15.29 million, which is €0.29 million in excess of the aggregate amount of bonds being issued.
The Company reserved 98% of the aggregate amount of Bonds being issued, that is €14.7 million (the “Security Holders’ Portion”), for subscription by applicants whose holding does not exceed €5 million in value (the “Existing Holders”), in the 6.7% Eden Finance p.l.c. Bonds 2010.
In this regard, the Company received 528 applications out of the 786 Existing Holders, equating to 67%, for a total value of €8.51 million, of which €7.87 million were allocated within the Security Holders’ Portion. The excess of €0.64 million, spread across 183 applications, was carried forward for allocation under the General Public Offer.
In addition to applications received from Existing Holders, a further 766 applications for an aggregate €6.78 million were received by the close of the Public Offer on 1st June 2010.
In total, the Bond Issue will register 1,294 bond holders, a 65% increase over the number of Existing Holders.
In formulating the allocation policy, the Company has decided to satisfy applications up to €330,000 in full. Applications over this amount have been scaled down by 28.65%. As a result, 99.9% of all applications have been satisfied in full.
Interest on the Bonds will commence on 9th June 2010. The dispatch of allotment advices and refunds of unallocated monies will be made by Wednesday 16th June 2010. The Bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on
Thursday 17th June 2010, and trading expected to commence on the following business day, Friday 18th June 2010.
Simon De Cesare
9th June 2010