shall in the aggregate be Euro 100,000,000

L.N. 213 of 2009

BUDGET MEASURES IMPLEMENTATION ACT 2009

(ACT NO. II OF 2009)

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Directive by the Minister of Finance, the Economy and

Investment for the Issue of Euro 100,000,000

(i) 3.6% Malta Government Stock 2013

(FOURTH ISSUE) (Fungibility Issue)

or

(ii) 5% Malta Government Stock 2021

(FIRST ISSUE) (Fungibility Issue)

or of;

(iii) Any combination of the above two Stocks

shall in the aggregate be Euro 100,000,000

IN exercise of the powers conferred by the Budget Measures

Implementation Act, 2009 and by article 4(1)(a) of the Local

Loans (Registered Stock and Securities) Ordinance, the Minister

of Finance, the Economy and Investment has authorised that the

sum of Euro 100,000,000 be issued as follows:-

i. 3.6% Malta Government Stock 2013(IV) Fungibility

issue; or

ii. 5% Malta Government Stock 2021 (I) Fungibility

issue; or of

iii. Any combination of the above two Stocks shall in

the aggregate be Euro 100,000.000

These Stocks shall be issued as set out in the prospectus

All persons and, or entities are eligible to apply for these

Stocks. Allotment will be applied as set out in the prospectus.

(a) In terms of the Financial Markets Act (Cap. 345),

when these Stocks have been allotted, an application shall be made

for the respective Stock to be placed on the official list and for

trading on the Malta Stock Exchange.

(b) On the 18th October 2009, after the payment of the

first dividend, any amount allotted under 3.6% Malta Government

Stock 2013 (IV) FI will be integrated with the existing issue of this

Stock and shall thereafter both be deemed to be one Stock.

(c) On the 8th February 2010, after the payment of the

first dividend, any amount allotted under 5% Malta Government

Stock 2021 (I) FI will be integrated with the existing issue of this

Stock and shall thereafter both be deemed to be one Stock.

The sum of money to be raised by either Stock, or of

any combination of the two Stocks shall in the aggregate be Euro

100,000,000. The Accountant General reserves the right to increase

the sum of money to be raised by a maximum of Euro 20,000,000.

(a) Interest at the rate of Euro 1.80 for every Euro 100,

3.6% Malta Government Stock 2013 (IV) - FI will be payable

half-yearly in arrears on the 18th day of April and the 18th day of

October in every year for the duration of the Stock. The first pro-

rata payment covering the period from the 14th August, 2009 to the

17th day of October, 2009 (both dates inclusive) shall be made on

the 18th day of October, 2009.

(b) Interest at the rate of Euro 2.5 for every Euro 100

5% Malta Government Stock 2021 will be payable half-yearly

in arrears on the 8th day of February and the 8th day of August

in every year for the duration of the Stock. The first pro-rata

payment covering the period from the 14th August, 2009 to the 7th

day of February, 2010 (both dates inclusive) shall be made on the

8th day of February, 2010.

(a) The 3.6% Malta Government Stock 2013 (IV) shall

be redeemed at par on the 18th October, 2013.

(b) The 5% Malta Government Stock 2021 (I) shall be

redeemed at par on the 8th August 2021.

€0.19