Basis of Allocation – Tropical Battery Company Limited Combined Offer for Sale and Initial Public Offer

Posted: September 28, 2020 at 9:21 am

NCB Capital Markets Limited (NCBCM) has advised of the Basis of Allocation of Tropical Battery Company Limited’s combined Offer for Sale and Initial Public Offer (IPO), as follows:

“Further to our letter dated September 22, 2020 informing the Jamaica Stock Exchange (“JSE”) of the closure of Tropical Battery Company Limited Combined Offer for Sale and Initial Public Offer (IPO) (‘the Offer”), we
are now pleased to inform the JSE of the Basis of Allocation.

Methodology for allotment:
1) Reserve Share Pools
a. Applicants in all reserved share pool will be allocated 100% of the shares for which they applied.

2) General Public Pool
a. Subscribers to the General Public Pool will receive up to the first 50,000 units (Base Allotment) plus a pro-rata allocation of approximately 30.6499% of the excess shares for which they applied above the Base Allotment.

Refunds for Applicants who did not receive fully allotment will commence next week Wednesday, September 30, 2020. As stated in the Prospectus dated September 9, 2020, refunds for applicants who applied for shares using “NCB Online Users” option in GoIPO will be processed as per their instructions on the GoIPO platform. Refunds to all other applicants will be made to the respective broker.”

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