Tumas Investments plc – Allocation Policy

Tumas Investments plc announced the allocation policy to be applied to applications received in respect of its €25 million 5% unsecured bonds 2024.

A total of 3,370 applications representing a total value of €43,278,600 were received from holders of the maturing bonds and from holders of the Tumas Investments plc 6.2% bonds 2017-2020. In view of the overwhelming response, the Intermediaries' Offer did not take place. Applications received were as follows:

A total of 2,230 holders of the maturing bonds opted to exchange their maturing bonds for a total value of €20,232,500 representing circa 81% of the 6.25% bonds 2014-2016. Such amounts are being allocated in full.

A further €10,751,800 in applications from holders of the maturing bonds who wished to increase their investment in the company. A total of 1,140 applications amounting to a total value of €12,294,300 were also received from holders of the Tumas Investments plc 6.2% bonds 2017-2020. The company decided to adopt the following allocation policy:

All applications are being allocated the first €1,000 in full;

Amounts in excess of €1,000 are being allocated a further 10.55% of the balance subject to rounding up to the nearest €100.

Refunds of unallocated monies will be affected by not later than August 5, 2014. The bond will be admitted to listing on the Malta Stock Exchange on July 31, 2014 and trading will commence on August 1, 2014. Interest on the bonds will accrue with effect from and including July 31, 2014.

To view the official company announcement, click here.