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Premier Allocation Policy


Premier Capital p.l.c Announces the Allocation Policy for its 6.8% Bonds 2017- 2020

Premier Capital p.l.c. (the “Issuer” or the “Company”) is pleased to announce the basis of acceptance for the issue of €25 million 6.8% Bonds 2017 – 2020 (the “Bond Issue”) which opened for public subscription (the “Public Offer”) on Wednesday 24 March 2010. As previously announced, the Public Offer was over-subscribed immediately after subscription lists were opened. The Issuer therefore decided to exercise the over-allotment option and issued an additional €5 million, to achieve the maximum aggregate amount of the Bond Issue of €25 million.

Premier Capital p.l.c. (the “Issuer” or the “Company”) is pleased to announce the basis of acceptance for the issue of €25 million 6.8% Bonds 2017 – 2020 (the “Bond Issue”) which opened for public subscription (the “Public Offer”) on Wednesday 24 March 2010. As previously announced, the Public Offer was over-subscribed immediately after subscription lists were opened. The Issuer therefore decided to exercise the over-allotment option and issued an additional €5 million, to achieve the maximum aggregate amount of the Bond Issue of €25 million.

The Company received 3,713 applications for the Bond Issue for an aggregate total of €35.94 million, which is €10.94 million in excess of the maximum aggregate amount of €25 million.

In terms of the prospectus, the Company reserved an amount of €12.5 million for the purpose of entering into Conditional Subscription Agreements with Authorised Intermediaries. Amounts subscribed for under such Agreements, submitted to the Registrar on the Pre-placement Date, the 18 March 2010, reached €35.02 million. As a result all amounts received from Authorised Intermediaries by the close of the Pre-placement Period were scaled down proportionately to the level of €12.5 million.

In addition to applications received up to the close of the Pre-placement period, a further 3,078 applications for an aggregate €23.44 million were received by the close of the Public Offer on 24 March 2010 by way of subscriptions for the remaining €12.5 million available for allotment at the Public Offer stage.

The Directors of the Company therefore also had to scale down these applications accordingly. As a result, the Company will be satisfying all applications for amounts up to €3,000 in full, thereby satisfying 35.74% of all applications received for the Public Offer in full. In the case of applications for amounts of €3,100 and over, the Company will likewise be satisfying the first €3,000 besides allocating a further 28% of the remaining balance of all such applications. All amounts being allocated have been rounded down to the level of an integral number of the €100 nominal value of the bonds.

Interest on the Bonds will commence on Thursday 1 April 2010. The dispatch of allotment advices and refunds of unallocated monies will be made by Friday 9 April 2010. The Bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on Monday 12 April 2010, and trading expected to commence on the following business day, Tuesday 13 April 2010.

The Board of Directors of the Company would like to thank the Investing Public, all Institutional Investors, participating Financial Intermediaries and Banks, as well as its team of advisors, for the support shown on this Bond Issue.