Wigton Windfarm Limited Announces Removal of 10% Shareholding Limitation

• Wigton Windfarm Limited (WIG) has announced that the Entrenched Articles (Limitations on Shareholdings), which provide for the special rights redeemable preference share of J$1.00 (“Special Share”) held by the Accountant General of Jamaica and the 10% shareholding limit, will cease to have any effect on the expiration of the Entrenchment Period.

• This announcement was per Wigton’s Articles of Incorporation. The Entrenchment Period is five (5) years from April 17, 2019, when the application list in the initial public offer launched by the Government was opened.

• This means that the Special Share held by the Accountant General of Jamaica will be surrendered and the 10% shareholding will cease to apply on April 17, 2024.

• The removal of the cap on shareholdings allows for the possibility of change in control, as an individual or group of individuals may now take control of the organization.

(Sources: JSE)