PG plc – Allocation Policy
The Company is pleased to announce the method of application of the allocation policy referred to in the Prospectus dated 27 March 2017 (the ”Prospectus”), in respect of applications received further to the offer for sale by Mr. PauI Gauci of 27,000,000 PG p.I.c. ordinary shares o‘ a nominal value of €0.25 per share (the ‘shares”), at the price of €1.00 per share.
As explained in section 5.2 of the Prospectus, an aggregate amount of 20,000,000 Shares was pre-allocated to three financial intermediaries, namely Bank of Valletta plc, Jesmond Mizzi Financial Advisors Limited, and Rizzo, Farrrugia & Co.(Stockbrokers) Limited.
A further tranche of 1,000,000 shares was reserved for the employees of PG plc and its subsidiary companies. 74 applications for a total of 1,180,000 shares were received from such employees. The Company shall be satisfying all applications received from employees as follows:
i. full upto the first 10,000 Shares applied for; and
ii. with respect to applications above 10,000 shares, the Company will be allocating the first 10,000 Shares in fuII and a further 76.92% of the remaining balance of aII suchapplications.
A final tranche of 6,000,000 Shares was the subject of an Intermediaries’ Offer through selected financial intermediaries consisting of the three intermediaries listed above together with Calamatta Cuschieri Investment Services Limited and Charts Investment Management Service Limited. Applications for a total of 90,792,855 Shares were received by the Company in the Intermediary’s offer. In terms of the Prospectus, in the case of over subscription, applications made through subscription agreements are due to be scaled down on a pro-rata basis. Accordingly, applications made through the financial intermediaries participating in the Intermediaries’ Offer shall be allocated 6.61% of the number of Shares applied for.
In total, applications for 111,973, 655 shares were received for the27,000,000 Shares on offer. As a resuIt, 881 shareholders will be added to the register of members of the Company held with the Central Securities Depository of the MaIta Stock Exchange.
The Board of Directors of the Company would like to thank the financial intermediaries, the investing public and the Group’s employees for the remarkable support shown towards this sale of shares and for the confidence expressed in the PG Group.
The shares will be admitted to listing on the Official List of the Malta Stock Exchange on 3rd May 2017 and trading will commence on Thursday 4th May 2017.