Plaza Centres plc announces allotment policy

Plaza Centres yesterday announced their allotment policy following the success of their Combined Offer to the public last week, which was oversubscribed just hours after opening.

A total of 542 applications for shares were received, company managing director and CEO Julian Zammit said, adding that "498

out of 542 applicants will be awarded with what they applied for in full. The remaining 44 applicants will be awarded the first 10,000 shares applied for in full and 20.79 per cent of the remaining balance of their application".

Mr Zammit said that HSBC, the managers of the issue, would be issuing refund cheques on Monday to the 44 applicants who have had their applications scaled down due to oversubscription.

"We are expecting the application made to the Malta Stock Exchange Council to be approved on the week commencing 5 June when trading could then start."