Scotia Investments Jamaica Limited (SIJL) has advised that the Offer for Subscription made by Fontana Ltd subject to a prospectus dated December 6, 2018, in respect of Two Hundred and Forty Nine Million Eight Hundred and Seventy Four Thousand Nine Hundred and Sixty Five (249,874,965) ordinary shares opened at 9:00 a.m. on Thursday, December 13, 2018 and closed at 9:05 a.m. on the same day.
SIJL advised that shares from the Employee Gift Pool and Company Reserved Pool were offered to qualified persons at $1.69 per share, while shares from the Key Customers & Doctors, Strategic Partners and Public Pools were offered to qualified persons at $1.88 per share.
A total of 3,406 applications were received for a total of 982,194,569 shares. Multiple applications from a single person/entity were removed except where that person/entity was entitled to apply to a reserved pool and the public pool. Once that process was complete 2,770 applications remained for a total of 944,150,335 shares.
The methodology and allotment of the shares are as follows:
Employee Gift Pool
These applicants were allocated 100% of the amounts applied for.
Company Reserved Pool
These applicants were allocated 100% of the amounts applied for. Due to oversubscription for the 5,917,159 shares in this pool, the excess amounts were allocated from the Key Customers and Doctors Pool.
Strategic Partners
These applicants were allocated a minimum of 50% of the amounts applied for.
Key Customers & Doctors
These applicants were allocated 100% of the amounts applied for.
Public Pool
Of the applications received, the first 25,000 units were allocated 100% of the amounts applied for. The amounts applied for in excess of 25,000 units were allocated approximately 8.82%.
