DIRECTIVE BY THE MINISTER FOR FINANCE FOR THE ISSUE OF EURO 50,000,000 MALTA GOVERNMENT STOCKS

ISSUE OF EURO 50,000,000

MALTA GOVERNMENT STOCKS

SUBSIDIARY LEGISLATION 161.135

DIRECTIVE BY THE MINISTER FOR FINANCE

FOR THE ISSUE OF EURO 50,000,000

MALTA GOVERNMENT STOCKS

26th May, 2015

LEGAL NOTICE 172 of 2015.

The title of this directive is Directive by the Minister for

Finance for the issue of Euro 50,000,000 Malta Government

Stocks.

An amount of Euro 50,000,000 Malta Government Stocks

shall be issued as follows

(a) 2% Malta Government Stock 2020 (V) Fungibility

Issue, and

(b) 2.3% Malta Government Stock 2029 (II), or

(c) any combination of the above two Stocks which shall

in the aggregate be Euro 50,000,000.

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.

(1) In terms of the Financial Markets Act, 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.

(2) On the 26th September, 2015 after the payment of the first

interest as indicated in article 7(1), any amount allotted under the

2% Malta Government Stock 2020 (V) F.I. shall be integrated with

the existing issue of this Stock and thereafter shall 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

50,000,000. The Accountant General reserves the right to increase

the sum of money to be raised up to a maximum of Euro

40,000,000.

(1) Interest at the rate of Euro 1.00 for every Euro 100 in

respect of the 2% Malta Government Stock 2020 (V) shall be

payable half-yearly in arrears on the 26th day of March and the

26th day of September in every year for the duration of the Stock.

The first pro rata interest payment covering the period from

the 16th day of June, 2015 to the 25th day of September, 2015 (both

dates inclusive), shall be made on the 26th day of September, 2015.

(2) Interest at the rate of Euro 1.15 for every Euro 100 in

respect of the 2.3% Malta Government Stock 2029 (II) shall be

ISSUE OF EURO 50,000,000

MALTA GOVERNMENT STOCKS

payable half-yearly in arrears on the 24th day of January and the

24th day of July in every year for the duration of the Stock.

The first pro rata interest payment covering the period from

the 16th day of June, 2015 to the 23rd day of July, 2015 (both dates

inclusive), shall be made on the 24th day of July, 2015.

(1) The 2% Malta Government Stock 2020 (V) shall be

redeemed at par on the 26th September, 2020.

(2) The 2.3% Malta Government Stock 2029 (II) shall be

redeemed at par on the 24th July, 2029.