March 21, 2023
138 Student Living Jamaica Limited (138SL) has advised that at an Extraordinary General Meeting of the Company held on March 20, 2023, the following resolutions were passed:
- THAT the authorized share capital of the Company be increased from 480,500,000 ordinary shares at no par value and 94,500,000 cumulative redeemable preference shares to unlimited authorized share capital.
- THAT the Company, be and is hereby authorized to issue up to 775,000,000 ordinary shares by way of an offer for subscription to the public pursuant to a prospectus (herein the “Additional Public Offering”) in lieu of a rights issue to existing stockholders.
- THAT the Board of Directors of the Company and/or any duly appointed Committee of the Board of Directors be and is hereby authorized to determine in their discretion any terms and conditions relating to the Additional Public Offering.
- THAT any pre-emption rights to which the existing stockholders may be entitled, howsoever arising, be and are hereby dis-applied for the purposes of the Additional Public Offering.
- THAT all ordinary shares issued in the Additional Public Offering once issued and allotted be and are hereby converted into stock units.
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