86% of all applications for MIH bond issue to be met in full

The company explained in a company announcement on the Malta Stock Exchange (MSE) on Monday that since– since subscriptions received at the placement agreements stage were in excess of the €15 million that were set aside for this purpose, the company satisfied about86.9% of subscriptions and refunded the rest to Authorised Financial Intermediaries.

With respect to applications received from preferred applicants, the company explained that applications received from investors who already held investments in one or more of the Corinthia Group’s listed companies, would be met in full up to the first €5,000 in the case of EUR Bonds, the first £4,200 in the case of GBP Bonds;  and the first $6,000 in the case of USD Bonds.

The company also announced that any balance on these applications would be scaled down to around15.0% while any unallocated balances thereafter would participate in the allocation policy applicable to the general public.

With respect to applications from the general public and unallocated applications from preferred applicants, these would be met in full up to the first €4,300 in the case of EUR Bonds; the first £3,600 in the case of GBP Bonds; and the first $5,200 in the case of USD Bonds. The remaining balances would be scaled down to around 9.3%.

The company explained how this meant that EUR Bond applications up to €10,000, GBP Bond applications up to £8,400 and USD applications up to $12,000 received from preferred applicants, which accounted for 82% of all applications received for the Bond issue, would be accepted in full.

Interest on the Bonds would commence as from today. Allotment letters and refunds of un-allocated monies would be paid by next Monday, 26 July 2010 by direct credit to the bank account indicated on the respective application forms.

The Board of Directors of MIH plc thanked the investing public, institutional investors, authorised financial intermediaries and the banks for their strong support.