Sygnus Receives Approval to Upsize Cumulative Preference Share Offers

• Sygnus Credit Investments Limited (SCI) has advised on the Basis of Allotment of its JMD and USD Preference Shares Offers. The Invitation closed on Friday, December 15, 2023, at 4:30 p.m. and was oversubscribed in all classes. The company received approval to upsize all classes of the shares.
• Class C shares were oversubscribed by 109.00%, totalling 16,727,200 shares, and was upsized to 16,000,000. All applicants of Class C Preference Shares will be allotted the first 250,000 shares applied for and 71.13% of amounts in excess of the 250,000 shares.
• Similarly, Class D shares were oversubscribed by 68.00% or 678,080 shares and was upsized to 1,678,080. All applicants of Class D Preference Shares will be allotted 100% of the amount applied for.
• Class E shares were oversubscribed by 136.00% (or 1,355,760 shares), totalling 2,355,760, and was upsized to 2,321,920. All applicants of Class E Preference Shares will be allotted the first 25,000 shares applied for and 66.61% of amounts in excess of the 25,000 shares.
• Overall, the dollar value of shares allotted amounted to J$1.6Bn and US$40.0Mn. Refunds to applicants should be made available to the account stipulated in their application by January 5, 2024.
• It is anticipated that the Preference Shares will be listed and begin trading on the Jamaica Stock Exchange (JSE) by January 24, 2024.

(Source: JSE)