Caribbean Assurance Brokers Limited Prospectus

The Application List will open at 9:00 a.m. on February 18, 2020 and will close at 4:30 p.m. on March 3, 2020, subject to the right of the Company to close the Application List at any time, without notice, if subscriptions have been received for the full amount of the Shares available for subscription and subject also to the right of the Company to extend the closing beyond that date in certain limited circumstances.

The Application List will open at 9:00 a.m. on February 18, 2020 and will close at 4:30 p.m. on March 3, 2020, subject to the right of the Company to close the Application List at any time, without notice, if subscriptions have been received for the full amount of the Shares available for subscription and subject also to the right of the Company to extend the closing beyond that date in certain limited circumstances.

Applications for Shares should be made on the original Application Form provided at the end of this Prospectus. Subscriptions must be for multiples of 100 Shares subject to a minimum of 1,000 Shares. The procedure for completing the Application Form and the terms and conditions of this Initial Public Offer are set out at Section 16 of this Prospectus. 44,362,500 Shares (“the Reserved Shares”) are reserved as follows: 6,300,000 Shares for a select number of directors of the Company (“Company Reserved (Directors) Shares”); 5,775,000 Shares for a select number of staff members of the Company (“Company Reserved (Staff) Shares”); 27,037,500 Shares for a select number of long standing clients of the Company (“Key Partners Reserved Shares”); and 5,250,000 Shares for clients of the Lead Broker (“Mayberry Client Reserved Shares”). Shares are being offered at a price of J$1.91. If any of the Reserved Shares are not fully subscribed by the relevant category of Reserved Share Applicants, then the excess shares shall first be available for subscription by other Reserved Share Applicants pro rata according to their respective Reserved Share limits. If any of the Reserved Shares remain unsubscribed after being offered to all Reserved Share categories then those Shares shall be available for subscription by the general public.

An Application has been or will be submitted to the Board of the Jamaica Stock Exchange for the whole of the issued ordinary share capital of the Company to be listed on the Junior Market of the Jamaica Stock Exchange. It is anticipated that the ordinary shares will be converted to stock units and listed within twenty one (21) days after the close of the Application List. However, the foregoing statement regarding the Company’s intention to list its stock units on the JSE is not to be construed as a guarantee that the Shares will be listed or that the Shares will be so listed within the time stated. If the Shares are listed, dealings will commence immediately after such listing. If the Shares are not so listed, then any provisional allotment of Shares made by the Company will be revoked and the Company will not proceed with the un-conditional allotment of Shares pursuant to this Prospectus. In such case, all monies received
from subscribers in response to this Prospectus would be refunded, without interest, within seven (7) days after the Jamaica Stock Exchange has notified the Company of its decision to decline the listing application and in any event within forty-eight (48) days after the issue of this Prospectus.

Check out full Prospectus here.