Main Event Entertainment Group Limited: – Basis of Allotment of Shares in Initial Public Offering
Kingston: Mayberry Investments Limited (“MIL”), lead financial Advisor and broker to Main Event Entertainment Group Limited (the “Company”) in its recent invitation to the public made subject to a prospectus dated 17 January 2017 (the “Invitation” and the “Prospectus” as the case may be), to subscribe for newly issued ordinary shares of the Company (the “Shares”), is advising that the basis of allotment of the Shares has now been finalised.
MIL received 1,056 applications valued at approximately $673,000,000. The Company’s Prospectus offered shares valued at $120,002,000, so the offer was oversubscribed and accordingly, it was closed early. 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. Mayberry Clients Reserved Applications: the first 3,000 shares were allocated 100%; the balance in excess of 3,000 units were allocated approximately 4.5981020%
2. Mayberry West Indies Reserved Shares were allocated 100%
3. Key Partner Reserved Applications were allocated 100%
4. Company Reserved Applications: the first 3,000 shares were allocated 100%; the balance in excess of 3,000 units were allocated approximately 48.7418953%
5. Shares for the general public: the first 3,000 shares were allocated 100%; the balance in excess of 3,000 units were allocated approx. 1.1904653%
The above basis has been reconciled with the Jamaica Central Securities Depository (JCSD). As per the Prospectus, the Company has 14 days within which to deliver refund cheques to Applicants. However, the Company intends to finalise refunds before that time and will advise the public accordingly. For Applicants who are not MIL clients, refund cheques will be prepared and can be collected from its offices at 1½ Oxford Road, Kingston 5. For Applicants who are MIL clients, refund amounts will be credited to their respective accounts.
All Applicants will receive a formal letter advising them of their respective allotment of shares in the Company in due course.
