The bonds issued by Mizzi Organisation Finance plc have been oversubscribed and the company is issuing an over-allotment option of €30 million.

Mizzi Organisation Finance received 1,321 applications from existing bondholders for the 6.7 per cent bonds 2009-2012 for a value of €20,065,300 representing an acceptance rate of more than 84.3 per cent. Furthermore, applications from Mizzi applicants totalled €1,592,400 and will also be met in full.

Mizzi Organisation Finance received €31,132,200 in applications at the pre-placement stage and since the amount available for allocations at this stage was €6,342,300, the company satisfied only 20.4 per cent of subscriptions.

Meanwhile, during the General Public Offering, the company received a further 2,933 applications with a value of €27,975,000. Due to the overwhelming demand and the availability of only €2,000,000 for the general public, the company decided to allot a minimum of €600 to each applicant together with a further allotment of about 1.04 per cent rounded to the nearest €100 nominal.

Interest on the bonds start to accrue as from yesterday, while refunds will be made by not later than Monday.

The €30 million Mizzi Organisation Finance plc 2016-19 bonds will shortly be admitted to the Official List of the Malta Stock Exchange.

John C. Grech, chairman of Mizzi Organisation Finance plc, said: "The Board of Directors would like to express its sincere thanks to the investing public, institutional investors, financial intermediaries and the banks for their strong and widespread support in the bond issue. This is a strong signal of investors' perception towards the Mizzi Organisation."

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