Mediterranean Investments Holding plc – Allotment Policy
Mediterranean Investments Holding plc – Allotment Policy
Mediterranean Investments Holding plc the Board of Directors announced the allotment policy to be applied with respect to the EUR 40 million 7.15% Bonds 2015-2017.
The Directors have decided to exercise the following allocations:
• Placement Agreements — since subscriptions received at this stage where in excess of the EUR 15 million that were set aside for this purpose, the Company satisfied circa 86.9% of subscriptions and refunded the rest to Authorised Financial Intermediaries.
• Preferred Applicants – applications received from investors, who already hold investments in one or more of the Corinthia Group’s listed companies, will be met in full up to:
i) the first EUR 5,000 in the case of EUR Bonds;
ii) the first GBP 4,200 in the case of GBP Bonds; and
iii) the first USD 6,000 in the case of USD Bonds.
Any balance on these applications will be scaled down to 14.999% while any unallocated balances thereafter will participate in the allocation policy applicable to the general public.
• General Public Applicants and unallocated applications from Preferred Applicants (at the preferential stage) — will be met in full up to:
i) the first EUR 4,300 in the case of EUR Bonds;
ii) the first GBP 3,600 in the case of GBP Bonds; and
iii) the first USD 5,200 in the case of USD Bonds.
The remaining balances will be scaled down to 9.273%.
This, in effect, means that EUR Bond applications up to EUR 10,000, GBP Bond applications up to GBP 8,400 and USD applications up to USD 12,000 received from Preferred Applicants, accounting for 82% of all applications received will be accepted in full.
Interest on the Bonds will commence as from the date of this announcement. Allotment letters and refunds of un-allocated monies will be paid by Monday, July 26, 2010 by direct credit to the bank account indicated on the respective application forms.
To view the official announcement, Click Here.