Barita Investments Limited (BIL) has advised that subsequent to the Extraordinary General Meeting, the Board of Directors of BIL on July 31, 2019 passed the following Board Resolution for a Rights Issue to ordinary Stockholders of BIL:
“1. The Board hereby approves the issue of up to 116,845,955 ordinary shares (“New Ordinary Shares”) as part of the authorized capital of the Company to ordinary Stockholders of the Company by way of a Renounceable Rights Issue on the following terms:
a) Offer Price of J$45.00 per New Ordinary Share;
b) Offer to Stockholders of the Company as at a Record Date of August 20, 2019;
c) Offer to open on September 2, 2019;
d) Last date for renunciation and splitting to be September 10, 2019;
e) Offer to close on September 15, 2019 for acceptance by existing ordinary Stockholders/Renouncees;
f) Offer to close on September 20, 2019 for acceptance by applicants for Excess Shares (not taken up by Allottees under the Letter of Provisional Allotment);
g) The share allocation ratio will be eleven (11) additional shares for every one hundred (100) shares owned by existing Stockholders.
2. The Board hereby approves the disposal of all New Ordinary Shares not taken up by Stockholders on terms and conditions as the Committee of Directors may consider expedient in their absolute discretion.”
