“Phoenicia Group receives approval for €50 million unsecured bond issue…”

Phoenicia Finance Company p.l.c. (the “Issuer”) has announced the issuance of €50,000,000 5.75% Unsecured Bonds redeemable between 2028 and 2033, having a nominal value of €100 per bond issued and redeemable at par (the “Bond Issue”). 

The bond issue is guaranteed by Phoenicia Malta Limited and Phoenicia Hotel Company Limited, both in terms of annual interest and capital repayment upon maturity. 

• In the case of Existing Bondholders, a minimum of €100 and multiples of €100 thereafter shall apply.

• In all other cases a minimum of €2,000 and multiples of €100 thereafter.

• The interest rate of 5.75 per cent will be paid annually on 30 December.

• Financial Intermediaries entering into placement agreements with the company are eligible for a maximum total amount of €20 million.

• Holders of the €25 million 4.15% Phoenicia Finance plc 2023-2028, are eligible for the remaining €30 million together with any remaining bonds not subscribed to via the Placement Agreement.

Closure of the offer Period for existing Bondholders is on the 23^rd February 2024 at 14.00.

New Issuance of Malta Government Stocks – February 2024

On 9 February 2024, the Treasury announced the issue of two new Malta Government Stocks for an aggregate nominal amount of €270 million subject to an over-allotment option of up to a further €130 million.

These are:

• 3.15% MGS 2027 (VII) @ 100% – YTM 3.149%

• 3.35% MGS 2029 (V) @ 100% – YTM 3.3493%

Applications by any single and/or joint applicants which do not exceed Euro 499,900 per person (retail investors) open on Monday, the 19th February 2024 at 8:30am and close on Wednesday, the 21st February 2024 at 14:30 hrs, or earlier at the discretion of the Accountant General.

Malta Company Announcements:

Maltapost plc

MaltaPost p.l.c. held the Annual General Meeting (AGM) on the 9 February 2024 during which all the Ordinary Resolutions on the agenda were approved, namely:

1. To receive and approve the Audited Financial Statements and consider the Report of the Directors and of the Auditors, for the year ended 30 September 2023.

2. To declare a final ordinary gross dividend of €0.03 (Net €0.02) per nominal €0.125 share, either in cash or by the issue of new shares at the option of each individual shareholder and to increase the Issued Share Capital accordingly.

3. To re-appoint as auditors PricewaterhouseCoopers, 78 Mill Street Qormi QRM 3101 and to authorise the Board of Directors to fix their remuneration.

4. To appoint Directors in accordance with the Articles of Association of the Company.

5. To establish at €75,000 the maximum annual aggregate Directors’ remuneration for the holding of their office.

Ordinary Resolutions – Special Business

6. To approve (Advisory Vote) the Remuneration Report for the year ended 30 September 2023

7. To approve the Remuneration Policy for Directors.

MAPRE MiddleSea p.l.c

The Board of Directors of MAPFRE Middlesea p.l.c, is scheduled to meet on Monday, 25^th March 2024 to discuss the following items:

1. Consideration and approval of the Company’s Audited Financial Statements for the financial year ended 31^st December 2023
2.  
3. Consider the declaration of a dividend, if any, to be recommended to the Annual General Meeting of Shareholders.

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