30 November - 6 December 2000

Middle Sea share issue

The government is offering for sale 863,625 ordinary shares in Middle Sea Insurance plc (nominal value 50 cents per share) at the price of Lm2.28 per share.Up to June 1999, these shares were held by Mid-Med Bank plc and were then acquired by government when it disposed of its majority shareholding in the bank.
These shares are being offered at Lm2.28 per share, which is the price at which they were acquired by government in 1999. The value of the company’s shares had grown significantly since then.
This favourable offer for sale is limited only to the shareholders who held shares in Mid-Med Bank at close of business on 5 April 1999. Their right to acquire Middle Sea shares is not transferable.