and 3.35% Malta Government Stock 2020 (IV)

L.N. 420 of 2013

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

CONVERSION OF STOCK

Directive by the Minister for Finance for the Conversion of Euro

150,000,000 out of the Euro 388,915,541 - 5.1% Malta Government

Stock 2014 (III) into an aggregate of Euro 150,000,000 in any one

or any combination of the 3.2% Malta Government Stock 2019 (V)

and 3.35% Malta Government Stock 2020 (IV)

IN exercise of the powers conferred by article 31(a) of the Local

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

Minister for Finance has declared Euro 150,000,000 out of the Euro

388,915,541 5.1% Malta Government Stock 2014 (III) which is due

for repayment on the 6th July, 2014 to be convertible into registered

stock to be issued under the provisions of the Ordinance.

The Minister has also authorised in terms of articles 31(b) and

32 of the same Ordinance that, for the conversion of Euro

150,000,000 out of the Euro 388,915,541 5.1% Malta Government

Stock 2014 (III), the issuance of

2% Malta Government Stock 2019 (V) and

3.35% Malta Government Stock 2020 (IV)

hereinafter the ‘Destination Stocks’ (Conversion Stocks) be created

and issued as follows

1. The Destination Stocks (Conversion Stocks) shall be Mode of issuing

stock.

issued as set out in the prospectus.

2. All stockholders of 5.1% Malta Government Stock, 2014 Allotment

(III) are eligible to apply for any or each of the two Stocks. Allotment policy.

of these stocks will be made as set out in the prospectus.

3. In terms of the Financial Markets Act, when these Stocks Trading on the

have been allotted, an application shall be made for these Stocks to be Malta

Exchange.

admitted to the official list and trading on the Malta Stock Exchange. Cap. 345.

The amount to be created and issued by either of the Amount of

Destination Stocks (Conversion Stocks), or any combination of the Stock

issued for

conversion.

two Destination Stocks (Conversion Stocks) shall in the aggregate be

Euro 150,000,000.

(1) Interest at the rate of 1.60% for every Euro 100 in

respect of the 3.2% Malta Government Stock 2019 (V) shall be

payable half-yearly in arrears on the 31st of January and the 31st of

July in every year during the duration of the Stock. The first interest

payment of Euro 1.60 for every Euro 100 stock covering the period

from the 31st July, 2013 to 30th January, 2014 (both dates inclusive),

shall be made on the 31st January, 2014.

(2) Interest at the rate of 1.675% for every Euro 100 in respect

of the 3.35% Malta Government Stock 2020 (IV) shall be payable

half-yearly in arrears on the 31st of January and the 31st of July in

every year during the duration of the Stock. The first interest payment

of Euro 1.675 for every Euro 100 Stock covering the period from the

31st July, 2013 to 30th January 2014 (both dates inclusive), shall be

made on the 31st January, 2014.

(1) The 3.2% Malta Government Stock 2019 (V) shall

be redeemed at par on 31st July, 2019.

(2) The 3.35% Malta Government Stock 2020 (IV) shall be

redeemed at par on 31st July, 2020.

€0.18