MT
from Lm10,(X)0,(X)0 6Vo Malta Government Stock 1998
Table of Provisions (7)
Statutory Text (7 Articles)
L.N.132 of l99E
LOCAL LOANS
(REGISTERED STOCK AI\D SECURITIES)
ORDTNANCE, (CAP.161)
Directive by the Minister of Finance and Commerce
for the Conversion into Lm10,fi[,(X)0
7 2Vo Malta Government (Conversion) Stock 2fi)8
(First Issue)
from Lm10,(X)0,(X)0 6Vo Malta Government Stock 1998
(Fifth Issue)
IN exercise of the powers conferred by sections a(lXa) of the
Local Loans (Registered Stock and Securities) Ordinance, Cap. 161,
the Minister of Finance and Commerce has declared the Lm10,000,000
6VoMalta Government Stock 1998 (V) due forrepayment on the l0th
June, 1998, to be convertible into Malta Government Stock to be issued
under the provisions of the Ordinance.
The Minister has also authorised in terms of sections 3l (b) and
32of the same Ordinance that, forthe conversion of the Lm10,000,000
6Vo Malta Government Stock 1 998 (V) a new 7 .2Vo Malta Government
(Conversion) Stock 2008 0) be created and issued as follows
(a) The Stock shall be issued at the price of Lm100 per Mode of issuing Stock.
cent and shall be allotted by application in multiples of Lm100.
Applications for the allotment of Stock by the present holders of the
6%oMalta Government Stock 1998 (V) shall open on Wednesday, 3rd
June, 1998 at 8.30 a.m. and shall close at 12.00 noon on Monday, 8th
June, 1998.
(b) Any remaining balance of the T.Z%oMaltaGovernment
(Conversion) Stock 2008 (D not taken up by the present holders of the
6Vo MaJta Government Stock 1998 (V) will be allotted to the Central
Bank of Malta for market making purposes.
An application for the Stock to be put on the official list and Trading
Stock Exchange,
trading on the Malta Stock Exchange will be made in terms of the Cap.345.
Malta Stock Exchange Act, when the Stock has been allotted.
The sum of monev to be raised bv the Stock shall be
Sum of money to be
raised.
Lm10,000,000.
On closing date the balance standing to the credit of the to Sinking
Rate
Sinking Fund of 6Vo Malta Government Stock 1998 (V) will be
transferred to the Sinking Fund7 .ZVo Malta Government (Conversion)
Stock 2008 (I) established for the purpose of redeeming the Stock. A
further half-yearly appropriation of not less than Lm100,000 out of
the General Revenue andAssets of the Government of Malta shall be
made as a contribution to this same Sinking Fund. The first contribution
shall be made during the frst six months of the year 1999.
Interest at the rate of Lm3.60 for every Lm100 Stock shall
be payable in arrear half-yearly on the l0th December and the lfth of
June of every year during the crrrency of the Stock. The first payment
covering the period from the llth June, 1998 to the 10th December,
1998 shall be made on the lfth day of December, 1998.
The Stock shall be redeemed at par on the 10th June, 2008.