January 22, 2024

Seprod Limited (SEP) has advised that its Board of Directors received a Take-Over Bid Offer Circular (“Offer Circular”) from Musson Investments Limited (“MUSSON”) on January 19, 2024 offering to purchase up to 13,948,000 SEP ordinary shares (being 1.90145% of the ordinary shares in SEP not already owned by MUSSON and its associates) at a cash price of $78.00 per share (“Offer”).  The Offer Circular dated January 15, 2024, which may be viewed in its entirety online at www.jamstockex.com, outlines that the Offer opens on January 24, 2024 and closes on February 15, 2024. On January 19, 2024, the Board of Directors of SEP appointed an Independent Committee consisting solely of directors not affiliated with MUSSON and its associates to review the Offer and to propose a recommendation to shareholders. A Directors’ Circular which will include a recommendation to shareholders will be published on the website of the Jamaica Stock Exchange and in the press as required by applicable regulations in due course.

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