5.1 The Company is seeking to raise the Jamaican equivalent of US$17,426,100.00 using the forward exchange rate as agreed with the lead broker on the Closing Date of the offer of 212,330,270 shares to the investing public in Jamaica. The Shares are being offered by Subscription to the investing public. Each share is being offered at the price of J$5.91 per share.
5.2 The conversion rate of J$ to US$ will be the forward exchange rate as agreed with the lead broker. Shares must be bought in quantities of at least 10,000 per transaction.
5.3 The proceeds of the Offer will be used to fulfil the Company’s contractual obligations to the Developer under the Share Purchase Agreement; the proceeds will be applied to the sixteen (16) Apartments and Health Club & Spa in the table that follows:
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