Express Catering Limited:  – Basis of Allotment of Shares in Initial Public Offering

Express Catering Limited:  – Basis of Allotment of Shares in Initial Public Offering

Kingston: Mayberry Investments Limited (“MIL”), lead financial advisor and broker to Express Catering Limited (the “Company”) in its recent invitation to the public made subject to a prospectus dated 5 July 2017 (the “Invitation” and the “Prospectus” as the case may be), to subscribe for Sale Shares of the Company (the “Shares”), is advising that the basis of allotment of the Shares has been determined.

MIL received a total of 1,270 applications valued at approximately $1,197,204,000. The Company’s Prospectus offered shares valued at $491,250,000. Of the total applications, 1,237 applications valued at $634,599,000 were received in the public pool, approximately 13 times the value of shares on offer in the public pool which was $48,937,000.

The Company has now determined the basis of allotment of the shares in accordance with the terms and conditions set out in the Prospectus:

  1. Company Reserved Shares were allocated 100%
  2. Mayberry Reserved Shares were allocated 100%
  3. Key Partner Reserved Applications were allocated 100%
  4. Shares for the general public: the first 12,000 shares were allocated 100%; the balance in excess of 12,000 units was allocated approximately 4.57%.

The above bases are preliminary and are subject to reconciliation with the Jamaica Central Securities Depository (JCSD).

The Company will endeavour to return cheques or make refunds by RTGS to Applicants whose Applications are not accepted, or whose Applications are only accepted in part, within 10 working days after the Closing Date, as the case may be, or as soon as practicable thereafter. Each Applicant’s returned cheque or refund will be sent for collection by the Applicant (or the first named joint Applicant) stated in the Application, at the brokerage/location where the Application was first received.

All Applicants will receive a formal letter advising them of their respective allotment of shares in the Company in due course.

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CONTACT:  Anika Jengelley

Assistant VP – Marketing

852-3172

anika.smith@mayberryinv.com

2017-07-14T20:53:11+00:00