October 25, 2019
MPC Caribbean Clean Energy Limited (MPCCEL) – Renounceable Rights Issue
MPC Caribbean Clean Energy Limited hereby advises the public that the Company intends to pursue a renounceable rights issue (the “Rights Issue”) in respect of its Class B shares in Jamaica and in Trinidad and Tobago.
The Record Date for the Rights Issue will be November 8, 2019. The Company is seeking to raise the equivalent of US$22,848,320.00 by offering its existing Class B shareholders, as recorded on the share registry records of the Company on the Record Date, the right to participate in the Rights Issue at a rate of Two (2) New Class B Shares for every Class B Share already held.
The subscription price for the Rights Issue will be J$140.00 per Class B Share for shareholders subscribing in Jamaica, based on a reference rate of US$1.00 to J$140.00, and US$1.00 per Class B Share for shareholders subscribing in Trinidad and Tobago. The Rights Issue will be in respect of an additional 22,848,320 Class B Shares in the capital of the Company.
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