JSE Jamaica Stock Exchange : Epply Limited (EPLY) Basis of Allotment of Two (2) New Classes of Cumulative Redeemable Preference Shares to Subscribers

Sagicor Investments Jamaica Limited has advised of the Closing and Basis of Allotment for Eppley Limited (EPLY) two (2) new classes of Cumulative Redeemable Preference Shares to Subscribers: the new Redeemable 8.75% Fixed Rate Preference Shares due 2023 and the new Redeemable 5.00% Fixed Rate Preference Shares due 2021. The Offers, made subject to a prospectus of Eppley Limited dated December 22, 2017, closed at 4:00 p.m. on the Closing Date, January 23, 2018.

1. 41,666,667 8.75% Preference Shares Due 2023 Priced at J$6.00 each
The Company reserved the right to make available further Preference Shares for subscription by Applicants in the Invitation up to 33,333,333 additional shares at $6.00 each. In such a case, the maximum consideration for the full subscription of this class of Preference Shares would not exceed J$450 million.

A total of 207 applications for Shares valued at approximately $631.3 million were received. The first 700,000 units were allocated 100%, the balance in excess of 700,000 units was allocated approximately 2.577%.

EPLY will now make an application to the Jamaica Stock Exchange to list the 2023 Preference Shares in accordance with the terms and conditions of the prospectus.

2.4,366,000 5.00% Preference Shares Due 2021 Priced at US$1.00 each
The Company reserved the right to make available further Preference Shares for subscription by Applicants in the Invitation up to 794,000 additional shares at US$1.00 each. In such a case the maximum consideration for full subscription of this class of Preference Shares would not exceed US$5.16 million.

A total of 143 applications for Shares valued at approximately US$5.25 million were received. The first 400,000 units were allocated 100%; the balance in excess of 400,000 units was allocated approximately 50%.

Sagicor Investments Limited further advised that EPLY will now make an application to the Jamaica Stock Exchange to list the 2021 Preference Shares in accordance with the terms and conditions of the prospectus.