January 25, 2023
Eppley Limited (EPLY) wishes to announce that its wholly owned subsidiary, Eppley Fund Managers Limited (“EFM”), will be launching a tender offer to purchase shares of the Eppley Caribbean Property Fund Limited SCC – Development Fund (the “Development Fund”). The Development Fund currently trades on the Barbados Stock Exchange and the Trinidad and Tobago Stock Exchange under the symbol “CPFD”. The Development Fund is a separate and distinct segregated cell from the Eppley Caribbean Property Fund Limited SCC – Value Fund, which currently trades on Jamaica Stock Exchange under the symbol “CPFV”. Under the terms of the tender offer, EFM which is the investment manager of the Development Fund will offer to purchase a minimum of 20% and up to a maximum of 60% of the Development Fund shares at a price of $0.21 Barbados currency per share (the “Offer Price”). The Offer Price represents a 24% premium to the last traded share price of $0.17 Barbados currency and a 34% premium to the average share price of the Development Fund shares over the last 12-months. The offer will be open for acceptance by Development Fund shareholders from January 27, 2023, until 3:00 p.m. (Barbados time) on March 27, 2023.
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