Barita Investments Limited has advised the Closing and Basis of Allotment of the Excess Shares Pool to subscribers of the Renounceable Rights Issue of 77,897,303 New Ordinary Shares at a subscription price of J$45.00 per share. The Offer, made subject to the Circular Letter of Barita Investments Limited, dated August 19th, 2019, was upsized by 50% on September 11th, 2019 to a total offer size of 116,845,955 shares.
The Excess Shares Pool, principally comprised of the upsized share offer of 38,948,652 New Ordinary Shares, was oversubscribed. The Offer closed on September 20th, 2019. At closure, a total of 116,845,955 New Ordinary Shares were allotted, resulting in the Company raising capital of J$5,258,067,975, 50% higher than the initial Principal Amount of J$3,505,378,635.
The Directors of Barita Investments Limited are pleased to announce the methodology and basis of allotment in respect of the Excess Shares as follows:
ROUND 1 ALLOTMENT FORMULA
Five And Half (5.5) New Ordinary Shares Were Allocated for Every One Hundred (100) Shares Owned by Eligible Shareholders In Respect of Applications Received for Participation in the Excess Shares Pool (“Base Allotment”).
(An Eligible Shareholder is a shareholder on record as at August 20, 2019)
ROUND 2 ALLOTMENT FORMULA
82.418840% of New Ordinary Shares Applied For By Each Eligible Shareholder In The Excess Shares Pool that was Unfilled in the Base Allotment.