DIRECTIVE BY THE MINISTER OF FINANCE FOR THE ISSUE OF LM10,000,000 6.9% MALTA GOVERNMENT STOCK 2002 (SECOND ISSUE)

ISSUE OF LM10,000,000 6.9%

MALTA GOVERNMENT STOCK 2002 (SECOND ISSUE)

SUBSIDIARY LEGISLATION 384.01

DIRECTIVE BY THE MINISTER OF FINANCE FOR

THE ISSUE OF LM10,000,000 6.9% MALTA

GOVERNMENT STOCK 2002 (SECOND ISSUE)

20th June, 1995

LEGAL NOTICE 87 of 1995.

The title of this Directive is Directive by the Minister of

Finance for the Issue of Lm10,000,000 6.9% Malta Government

Stock 2002 (Second Issue).

The stock shall be issued at the price of Lm100 per cent

and shall be allotted by application in multiples of Lm100.

Applications for the allotment of stock shall open on Monday, 26th

June, 1995 at 8.30a.m. and shall close at 12.00 noon on Saturday,

8th July, 1995, or earlier at the discretion of the Accountant

General.

All persons and/or entities are eligible to apply. Allotment

will be on a first-applied first-accepted basis with preference being

given to non-banking applicants.

An application for the stock to be put on the official list

and trading on the Malta Stock Exchange will be made in terms of

the Malta Stock Exchange Act, when the stock has been fully

subscribed.

The sum of money to be raised by the stock shall be

Lm10,000,000.

A half-yearly appropriation of not less than Lm125,000 out

of the general revenue and assets of the Government of Malta shall

be made as a contribution to the sinking fund established for the

purpose of redeeming the stock. The first contribution shall be

made during the first six months of the year 1996.

Interest at the rate of Lm3.45 for every Lm100 stock shall

be payable in arrear half-yearly on the 10th June and the 10th of

December of every year during the currency of the stock. The first

pro rata payment covering the period from the 9th July, 1995 to the

10th December 1995, shall be made on the 10th day of December,

1995.

The stock shall be redeemed at par on the 10th June, 2002.