MaltaMedia.com

In a company announcement issued on Monday evening, the Board of Directors of the Grand Harbour Marina p.l.c. have expressed their confidence that, save for any unexpected circumstances, the issue of the €10,000,000 Bonds together (with the over-allotment option of a further €2,000,000 Bonds), is likely to be subscribed immediately upon the opening of the issue period on the 11 February 2010.

This statement followed the fact that the Company received applications substantially in excess of the preferred portion of €6,000,000 Bonds, which in terms of the prospectus, were reserved for authorised financial intermediaries for the benefit of their clients and a further €1,000,000 Bonds for the benefit of Preferred Applicants.

Mr Lawrence Zammit, Chairman of GHM thanked the investors for their confidence in the company, a company which in his words stands for excellence in the yacht marina sector.

“Our long association with Camper & Nicholsons (“C&N”), the leading international marina group and the fact that this forms a strong team positioned to develop existing business and to take advantage of the investment opportunities in the sector are some of the advantages that prospective investors appeared to have weighed positively”, added Zammit.

On January 25th, Malta Stock Exchange listed Grand Harbour Marina plc (“GHM”), operators of Malta’s premier yacht marina, announced the issue of €10 million of Bonds with an Over-allotment Option not exceeding €2 million. The Bonds pay interest of 7% p.a. and mature in 2017-2020.

HSBC Bank Malta plc is acting as Manager and Registrar to the issue. Rizzo Farrugia & Co. Stockbrokers Ltd. is the Sponsor. Camilleri Preziosi Advocates is the Legal Counsel to the Bond Issue, Guido de Marco & Associates is Legal Counsel to the Issuer whilst FINCO Treasury Management Ltd acts as Financial Advisors.