Sagicor Investments Jamaica Limited has advised on the Closing and Basis of Allotment to Subscribers of the Non-Renounceable Rights Issue of 262,280,484 New Ordinary Shares at a subscription price of J$15.50 per share. The Offer, made subject to the Circular letter of Barita Investments Limited, dated January 28, 2019 closed on March 25, 2019.
The statement further advised that at closure , the Excess Pool totaled 45,911,296 shares and this was oversubscribed by 134.51%.
the directors of Barita Investments Limited are pleased to announce the methodology and allotment of the Excess Shares as follows:
ROUND 1 ALLOTMENT FORMULA:
An exception to the application of the above formula was made for Barita Unit Trusts Management Company Limited in respect of an allotment of 6,000,000 units to that applicant for the sole purpose of satisfying an employee share ownership program for the staff of the Barita Investments Limited
ROUND 2 ALLOTMENT FORMULA:
Where B = Remaining Excess Shares After Round 1 Allotment
- An eligible Excess Applicant is a shareholder on record as at March 18, 2019
ROUND 3 ALLOTMENT FORMULA:
Where C = Remaining Excess Shares After Round 2 Allotment