Dolphin Cove – Basis of Allotment

Posted: December 13, 2010 at 12:00 am

 

News Release
For Immediate Release
 
Monday, December 13, 2010
 
Dolphin Cove Limited – Invitation for Subscription
Basis of Allotment of Ordinary Shares, and Refunds for Unsatisfied Amounts
 
Kingston Jamaica: Pan Caribbean Financial Services Limited (PCFS), lead financial advisor and sole broker to Dolphin Cove Limited (the Company or Dolphin Cove) in its Invitation to the public to subscribe for 80 million ordinary shares (Shares) subject to a prospectus dated 30th November, hereby announces the basis of allotment of those Shares:
 
  • Applications for up to 50,000 Shares:   will be satisfied as to 100%
 
  • Applications for more than 50,000 Shares: the first 50,000 Shares applied for will be allotted as to 100%, and any Shares applied for above that amount will be subject to a proportional allotment of 28.06%, subject to rounding to the nearest 1000 shares.
526 applications for approximately 206.9 million Shares valued at approximately J$620 million were received from both the general public and Reserved Share Applicants on the Opening Date, Wednesday 8th December 2010.  Due to the overwhelming oversubscription, the Invitation was closed at 9:10 a.m. on the Opening Date.
The final allotment of Shares will be made by the registrar of the Company, the Jamaica Central Securities Depository, in approximately 3 to 4 weeks’ time.
We take this opportunity to thank all investors who participated in the Invitation and encourage those who were unable to participate to purchase Shares in the Company on the Junior Market of the Jamaica Stock Exchange when and if the application for admission is approved.
 
-END-
 
For further information please contact Carlette DeLeon at 876-929-4048 or carlette@breakthroughall.com.
Pan Caribbean Financial Services Limited
The PanCaribbean Building
60 Knutsford Boulevard, Kingston 5
Tel: 876.929.5583 Jamaica
Fax: 876.960.3105
Website:
www.gopancaribbean.com

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