The Company

P G Finance plc (formerly Big Bon Finance plc) was set up on 20 November 2002 to act as a finance company for the Big Bon Group in relation to the €6.99 million 7% secured bonds admitted to the Alternative Companies List of the Malta Stock Exchange on 20 December 2002.

Alhambra Properties Ltd. is the owner of the Alhambra Complex in Sliema. Alhambra Investments Ltd is the holding company of the Alhambra Group, which is made up of Alhambra Properties Ltd., Alhambra Trading Ltd, Alhambra Investments Ltd and P G Finance plc.  Alhambra Trading Ltd. is a subsidiary of Alhambra Investments Ltd. and is the exclusive franchisee of Zara International in Malta. Alhambra Trading Ltd. commenced operations on 9 November 2002.

Alhambra Group is owned by P G Holdings Ltd – a reputable investment company with diversified interests within the (i) tourism, (ii) property development, (iii) retail, (iv) financial and (v) marine sectors.

Within the retail sector P G Holdings Ltd has operations in clothing (Zara), soft furnishings (Zara Home) and a supermarket (PAVI Shopping Complex plc). P G Holdings Ltd is involved in the tourism sector through the shareholding in Pensinsula Holdings Ltd., owner of the Westin Dragonara Resort. In the financial sector P G Holdings Ltd has an equity interest in Banif Bank (Malta) plc.

Security

The bonds are represented by one Global Note held by the Trustee (HSBC Bank Malta plc) following the constitution of a Trust Deed between PG Finance plc, Alhambra Complex Ltd., Alhambra Trading Ltd. and HSBC Bank Malta plc. The trustee holds the right on behalf of the bondholders to the title of the property (the Alhambra Complex), which has been hypothecated by one of the guarantors, Alhambra Complex Ltd.

Guarantors

Alhambra Properties Ltd., Alhambra Trading Ltd & Alhambra Investments Ltd.

Coupon

7%

Amount Issued

€6,988,834

ISIN Code

MT0000261207

Maturity

The Bonds will mature at 100% (par) on 20 December 2012, but may be redeemed earlier on 20 December 2010 or 20 December 2011.

Interest Payment

Annually on 20 December

XD Date

6 December

Listing

Alternative Companies List

No. of Bondholders

1,332

Directors

Paul Gauci, William Spiteri Bailey, Lawrence Zammit.