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Financial News

Feb 2013 Financial News

NCBJ - Cross-Listing Update

Feb 04, 2013

National Commercial Bank Jamaica Limited has informed the Stock Exchange that it filed a revised registration statement with the United States Securities and Exchange Commission effective January 25, 2013. A copy is available from the following link:

http://www.sec.gov/Archives/edgar/data/1534317/000119312513024259/d455758df1a.htm

The filing includes some preliminary unaudited financial information regarding the first quarter of the Company’s financial year. That information is attached.

It is possible that the actual results, when released, could differ materially from this preliminary information. However management’s expectation is that the preliminary information will be consistent with the results for the quarter that
will be released when they have been approved. Approval is expected to be within the next few weeks.

The registration statement also indicates that the offering is for American Depositary Shares (ADSs), each of which will represent 50 ordinary shares in the Company. 12,500,000 ADSs are being offered by the Company, while AIC
(Barbados) Limited and AIC Global Holdings Inc. are offering a further 3,571,429 ADSs. The Company’s underwriters (JP Morgan Securities LLC, Macquarie Capital (USA) Inc., Canaccord Genuity Inc. and CIBC World Markets Corp.) have an option to purchase from the Company an additional 2,410,714 ADSs.

Based on the mid-point of the price range included in the registration statement, the Company is projecting to raise US$175 million from the offering (or approximately US$158 million net of expenses), not taking into account the
underwriters’ over-allotment option. Marketing activities overseas have commenced.

Although the registration statement has been filed with the U.S. Securities and Exchange Commission, it has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.


Source:
The Trinidad and Tobago Stock Exchange Limited
Monday February 4, 2013