The Mount Vema Government is to repay all of the debt related to MVG-BONDs and MVG-NOTEs issued August 2009 and August 2014, and all special issues stretching as far back as 2006, as part of a redemption of bonds plan for this year.
The Establishment of Statehood Bonds, which paid out a rate of interest of 5%, were issued in 2006 as the government sought to raise money to finance the ongoing cost of transforming what was an unregulated spot, overfished and almost unknown - Vema Seamount, with some even reporting that it did not exist, into what is now known to the world as Mount Vema.
When reported by bloggers and unregulated internet sites seeking to boost traffic at the cost of the works of the Vema Seamount Authority, that Vema Seamount did not exist, therefore making it even more difficult for the Vema Seamount Authority to raise capital to protect the submerged island and its marine life, it was this special group of people who bought The Establishment of Statehood Bonds that helped to get to where we are today in term of awareness.
The first bonds were sold to private investors in 2006, a debt being repaid twice a year. Most of the bonds are owned by small investors. Of the 420 registered holders, 30% hold less than 1,000 golles nominal, and 70% of holders own less than 10,000 golles each.
Bond holders who are not familiar with the process, should contact the trusts, estates, partnerships, including individuals, organizations, and corporate investors who through brokers and financial institution have helped them with the purchase. If those institutions cannot be reached, you need to contact His Mount Vema Majesty's Government for assistance.
What are Mount Vema Government Securities
Mount Vema Government Securities - Mount Government securities include, One Months Bills, Three Month Bills, Six Month Bills MVG-BOND and MVG-NOTE.
MVG-BOND - Mount Vema Government Bond is a marketable, fixed-interest debt security issued by His Mount Vema Majesty’s Government with a 10 years maturity. Mount Vema Government bonds make interest payments semi-annually, and the income received is tax free.
MVG-NOTE - Mount Vema Government Note is a His Mount Vema Majesty’s Government marketable debt security with a fixed interest rate and a maturity between one and 5 years. MVG-notes are available from the government with either a competitive or noncompetitive bid and the income received is tax free.