Midi bonds allotment policy

Midi plc yesterday released its allotment policy for its euro and sterling bonds.

The bonds opened for public subscription a week ago and were oversubscribed within 90 minutes with over 2,600 applications. Most of these were for up to, and including, €100,000 or £87,000, and were met in full.

However, in the case of individual applications of more than €100,000 or £87,000, the first €100,000 or £87,000 will be met in full, together with 66.59 per cent of the remainder. All figures will be rounded to the nearest €100 or £100.

Applicants will be informed by mail and refunds of any unallocated money will be paid by direct credit to the bank account indicated on the application form on Friday.

Interest on the bonds began yesterday.