Fungibility Issue

L.N. 60 of 2003

BUDGET MEASURES IMPLEMENTATION ACT, 2003

(ACT NO. II OF 2003)

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Directive by the Minister of Finance

for the Issue of an amount not exceeding Lm20,000,000

9% Malta Government Stock 2015

(Second Issue)

Fungibility Issue

IN exercise of the powers conferred by the Budget Measures

Implementation Act, 2003 and by article 4(1)(a) of the Local Loans

(Registered Stock and Securities) Ordinance, Cap. 161, the Minister of

Finance has authorised that the sum of Lm20,000,000 5.9 % Malta

Government Stock be added and issued as follows>–

Mode of issuing

This Stock shall be issued as set out in the prospectus.

1. Stock.

2. All persons and#or entities are eligible to apply for this Stock. Allotment Policy.

Allotment will be applied as set out in the prospectus.

3. (a) In terms of the Malta Stock Exchange Act, when the Stock Trading on the

Malta Stock

has been allotted, an application shall be made for the Stock to be Exchange, Cap.

placed on the official list and for trading on the Malta Stock 345.

Exchange.

(b) On the 9th April, 2003 after the payment of the first

dividend, this Stock will be integrated with the existing issue –

5.9% Malta Government Stock 2015 (II) and shall thereafter both

be deemed to be one Stock.

4. The sum of money to be raised by the Stock shall not exceed Sum of money to be

raised.

Lm20,000,000.

5. Interest at the rate of Lm2.95,0 for every Lm100 Stock will

be payable half-yearly in arrear on the 9th day of April and on the

9th day of October in every year for the duration of the Stock. The

first payment, pro-rata, covering the period from the 22nd day of

February, 2003 to the 9th day of April, 2003 shall be made on the

9th day of April, 2003.

The Stock shall be redeemed at par on the 9th October, 2015.

Mitbug[ fl-Istamperija tal-Gvern – Printed at the Government Printing Press