Wigton Windfarms Limited – Basis of Allotment of Shares in Initial Public Offering

Posted: May 16, 2019 at 1:37 pm

News Release – Wigton Windfarms Limited’s Basis of Allotment of Shares in Initial Public Offering

The Jamaica Central Securities Depository (“JCSD”) and Mayberry Investments Limited (“Mayberry”) have completed the reconciliation of all Applications in the Offer for Sale (the “Offer”) of 11,000,000,000 ordinary shares (the “Share”) in Wigton Windfarm Limited (the “Company”) pursuant to a prospectus dated 8 April 2019 (the “Prospectus”).

1.    First, Reserved Share Applications: All Public Sector Workers who applied for less than 15,000,000 units were given full allocation. The remaining Reserved Shares were allocated sequentially in tranches of 10,000 until the Reserved Pool was exhausted. The pool was oversubscribed.
2.    Second, General Public Applications: All members of the general public who applied for less than 8,500,000 units were given full allocation. The remaining shares in the public pool were allocated sequentially in tranches of 10,000. The pool was oversubscribed.

In accordance with the Prospectus, allocation was made on a “bottom up” basis in tranches of 10,000 – that is to say all Applications (large or small) were allocated a first tranche of up to 10,000 Shares and Applications in excess of 10,000 Shares were allocated up to a further 10,000 Shares and so on until all Shares were allocated. This was applied separately to the Reserve Pool and the Public Pool.

Refunds to Applicants whose Applications were not met in full will be made as follows:

• Refunds to Applicants who are clients of Mayberry will be credited to their accounts by end of day today, 15 May 2019.
• Refunds to Applicants who are not Mayberry clients will be made available to the selling agent/location where the Application was first received by tomorrow 16 May 2019.

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

It is anticipated that the Company’s Shares will be listed and begin trading on the Main Market of the Jamaica Stock Exchange (JSE) on May 22, 2019.

PCJ wishes to thank all Applicants in the Offer, and in particular, Public Sector Workers for making this historic Offer the resounding success that it has become.

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