DIRECTIVE BY THE MINISTER OF FINANCE FOR THE ISSUE OF LM6,000,000 6.3% MALTA GOVERNMENT STOCK 1999 (FOURTH ISSUE)

ISSUE OF LM6,000,000 6.3%

MALTA GOVERNMENT STOCK 1999 (FOURTH ISSUE)

SUBSIDIARY LEGISLATION 388.07

DIRECTIVE BY THE MINISTER OF FINANCE FOR

THE ISSUE OF LM6,000,000 6.3% MALTA

GOVERNMENT STOCK 1999 (FOURTH ISSUE)

28th June, 1996

LEGAL NOTICE 125 of 1996.

The title of this Directive is Directive by the Minister of

Finance for the Issue of Lm6,000,000 6.3% Malta Government

Stock 1999 (Fourth Issue).

The present issue of stock is being made for the purpose of

making good part of the deficit incurred by the Consolidated Fund

to meet expenditure during the year 1995 and that projected to be

incurred in the year 1996.

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, 8th

July, 1996 at 8.30a.m. and shall close at 12.00 noon on Saturday,

20th July, 1996 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 allotted.

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

Lm6,000,000.

A half-yearly appropriation of not less than Lm60,000 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 1997.

Interest at the rate of Lm3.15 for every Lm100 stock shall

be payable in arrear half-yearly on the 20th January and the 20th of

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

payment covering the period from the 21st July, 1996 to the 20th

January, 1997 shall be made on the 20th day of January, 1997. The

last pro rata payment covering the period from the 21st day of

January, 1999 to the 1st day of August, 1999 shall be made on the

redemption date 1st August, 1999.

The stock shall be redeemed at par on the 1st August, 1999.