Key Insurance Company Limited (KEY) has advised of the Closing and Basis of Allotment of up to 190,863,000 New Ordinary Shares to subscribers of the Renounceable Rights Issue at a subscription price of J$3.50 per share. The Offer, made subject to the Circular Letter of Key, dated the 11th day of December 2020, closed successfully on January 11, 2010, resulting in the Company raising capital of J$668,018,435.00.
KEY has also confirmed its methodology and basis of allotment in respect of the New Ordinary Shares as follows:
1. Existing Ordinary Stockholders were allocated 100% of their provisional allotment of New Ordinary Shares
2. Existing Ordinary Stockholders were allocated 100% of their application for New Ordinary Shares in the Excess Shares Pool
3. Renouncees were allocated 100% of the provisional allotment of New Ordinary Shares held by Existing Ordinary Shareholders renounced to the Renouncee.
