JMMB Group Limited (JMMBGL) has advised of the Basis of Allotment of its JMD Preference Shares Offers. The Company stated that its Cumulative Redeemable 7.35% and 7.15% JMD Preference Shares Offers closed on March 9, 2021 at 3:30 p.m.
A. The Offer for the Cumulative Redeemable 7.35% JMD Preference Shares was oversubscribed, while the Offer for the Cumulative Redeemable 7.15% JMD Preference Shares was undersubscribed as follows:
- The initial number of Cumulative Redeemable 7.35% JMD Preference Shares was 1,500,000,000. The total applied for was 3,206,485,000 shares.
- The initial number of Cumulative Redeemable 7.15% JMD Preference Shares was 500,000,000. The total applied for was 115,493,000 shares.
B. This resulted in the Offer being oversubscribed by 66.10% with a total of 7,762 applications for Preference Shares valued at J$9,965,934,000 being received.
JMMBGL’s further advised that the Company’s Directors have exercised the option to upsized the Invitation to accommodate all 3,321,978,000 Preference Shares applied for.
The Basis of Allotment is as follows:
| JMMB Clients | All applicants in this pool will receive full allotment |
| Non-Clients | All applicants in this pool will receive full allotment |
JMMBGL has advised that all applicants will receive a notification advising them of their respective allotment of Preference Shares in the Company in due course.
The Company anticipates that the Preference Shares will be listed and begin trading on the Jamaica Stock Exchange by March 26, 2021, subject to the JSE’s Listing Committee’s approval.
