DIRECTIVE BY THE MINISTER FOR FINANCE FOR THE ISSUE OF EURO 100,000,000 MALTA GOVERNMENT STOCKS

ISSUE OF EURO 100,000,000

MALTA GOVERNMENT STOCKS

SUBSIDIARY LEGISLATION 161.143

DIRECTIVE BY THE MINISTER FOR FINANCE

FOR THE ISSUE OF EURO 100,000,000

MALTA GOVERNMENT STOCKS

7th October, 2016

LEGAL NOTICE 318 of 2016.

The title of this directive is Directive by the Minister for

Finance for the issue of Euro 100,000,000 Malta Government

Stocks.

An amount of Euro 100,000,000 Malta Government Stocks

shall be issued as follows

(a) 1.5% Malta Government Stock 2022 (IV) Fungibility

Issue, and

(b) 2.1% Malta Government Stock 2039 (I), or

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

(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 11th January, 2017 after the payment of the first

interest as indicated in article 7(1)(a) and (b), any amount allotted

under the 1.5% Malta Government Stock 2022 (IV) F.I. shall be

integrated with the existing issue of this Stock and thereafter shall

be deemed to be one Stock.

(3) On the 24th February, 2017 after the payment of the first

interest as indicated in article 7(2) (a) and (b), any amount allotted

u nd e r t h e 2 . 1 % M a l t a Go v e r n m e n t St o c k 2 0 3 9 ( I ) s h a l l b e

integrated and thereafter both 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

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

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

60,000,000.

(1) Interest at the rate of Euro 0.75 for every Euro 100 in

respect of the 1.5% Malta Government Stock 2022 (IV) shall be

payable half-yearly in arrears on the 11th day of January and the

11th day of July in every year for the duration of the Stock

(a) the first pro rata interest payment in respect of the

ISSUE OF EURO 100,000,000

MALTA GOVERNMENT STOCKS

allotted amount from applications submitted by

members of the public covering the period from the

24th day of October, 2016 to the 10th day of January,

2017 (both dates inclusive), shall be made on the 11th

day of January, 2017;

(b) the first pro rata interest payment in respect of the

allotted amount from bids/applications submitted by

institutional investors covering the period from the

26th day of October, 2016 to the 10th day of January,

2017 (both dates inclusive), shall be made on the 11th

day of January, 2017.

(2) Interest at the rate of Euro 1.05 for every Euro 100 in

respect of the 2.1% Malta Government Stock 2039 (I) shall be

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

24th day of August in every year for the duration of the Stock

(a) the first pro rata interest payment in respect of the

allotted amount from applications submitted by

members of the public covering the period from the

24th day of October, 2016 to the 23rd day of February,

2017 (both dates inclusive), shall be made on the 24th

day of February, 2017;

(b) the first pro rata interest payment in respect of the

allotted amount from bids/applications submitted by

institutional investors covering the period from the

26th day of October, 2016 to the 23rd day of February,

2017 (both dates inclusive), shall be made on the 24th

day of February, 2017.

(1) The 1.5% Malta Government Stock 2022 (IV) shall be

redeemed at par on the 11th July 2022.

(2) The 2.1% Malta Government Stock 2039 (I) shall be redeemed

at par on the 24th August, 2039.