The Lead Broker, Sagicor Investments Jamaica Limited, has advised on the Closing and Basis of Allotment to Subscribers for One On One Educational Services Limited’s Issue of 380,000,000 Ordinary Shares, at a subscription price of J$0.80 per share for the Convertible Loan Conversion pool and J$1.00 per share for all other Reserved and Non-Reserved pools. The Offer made subject to the prospectus of One On One Educational Services Limited, dated July 28, 2022 closed on August 12, 2022.
The Prospectus outlines five (5) Reserved Share Pools and a General Public Pool. The methodology and allotment of ordinary shares are as follows:
1. Convertible Loan Conversion
Applicants in the Convertible Loan Conversion Pool shall receive full allotment of their subscription.
2. Key Strategic Partners
Applicants in the Key Strategic Partners Pool shall receive full allotment of their subscription.
3. Sagicor
Applicants in the Sagicor Pool shall receive the first 450,000 units plus a pro-rata allocation of approximately 1.11% of the balance in excess of 450,000 units.
4. Teachers and Trainers
Applicants in the Teachers and Trainers Pool shall receive the first 80,000 units plus a pro-rata allocation of approximately 3.47% of the balance in excess of 80,000 units.
5. Employees
Applicants in the Employees Pool shall receive the first 500,000 units plus a pro-rata allocation of approximately 69.83% of the balance in excess of 500,000 units.
6. General Public Pool
All applicants from the General Pool shall receive the first 5,000 units plus a pro-rata allocation of approximately 2.23% of the balance in excess of 5,000 units.
