APM Terminals Bahrain B.S.C.(c) IPO Subscription Results and Allotment Basis

The Board of Directors of APM Terminals Bahrain B.S.C.(c) (“APM”) jointly with the Lead Manager, SICO B.S.C.(c), are pleased to announce the subscription results and allotment basis for ordinary shares in APM, pursuant to the Initial Public Offering (the “IPO”) of 18,000,000 existing shares, which was open for subscription from 8 November 2018 to 24 November 2018.

Capitalised terms described in this notice not otherwise defined have the meaning ascribed to them in the IPO prospectus as registered on 29 October 2018.

*The numbers and percentages indicated above are provisional and subject to change following final reconciliation of the data relating to the Application Forms received. If, following such reconciliation, any of the above numbers and percentages will result to be different, a new announcement will be made with the approval of the Central Bank of Bahrain.

ALLOTMENT BASIS

Based on the provisional results of the subscriptions:

1. Given that the number of Offer Shares applied for by Institutional Applicants exceeds the Institutional Allocation, all Institutional Applicants who are Eligible Applicants shall receive their pro-rata allocation of the Institutional Allocation of 12,600,000 Offer Shares. Such pro-ration shall be made on the basis of the number of Offer Shares applied for by each such Institutional Applicant;
2. Given that the number of Offer Shares applied for by the Retail Applicants exceeds the Retail Allocation, the Retail Applicants who are Eligible Applicants shall receive the number of Offer Shares available under the Retail Allotment Basis specified in the Prospectus. In particular, it appears from the provisional results that the Initial Minimum Retail Allocation (as defined in the Prospectus) may not be fully filled and, therefore, each such Retail Applicant having applied for 15,000 Offer Shares or less may receive less than the full amount of Offer Shares applied for.
3. Given that the number of Offer Shares applied for exceeds the total amount of Offer Shares offered in the IPO, no Offer Shares will be purchased by the Underwriter under the Underwriting Agreement.

Please note that the full details of the allocation mechanics are described in Section 16.3 of the Prospectus and this announcement is subject to and shall be read in conjunction with the Prospectus. In case of any discrepancy between this announcement and the Prospectus, the Prospectus shall prevail. The decision of the Lead Manager on the basis of Allotment and on each individual Allotment shall be final.

Please note that the Central Bank of Bahrain has not reviewed the Allotment statement and the Shareholders list and its approval is expected to be received on Tuesday 27 November 2018.

Distribution of Allotment Notices and Refunds

Allotment shall take place on Thursday 29 November 2018. Applicants may receive their Allotment Notices from Bahrain Clear, 4th floor, Harbour Mall, Bahrain Financial Harbour, Kingdom of Bahrain or the Applicants’ designated brokerages or Participating Brokers at which they submitted their Application Forms starting from Thursday 29 November 2018 between 8:00am and 2:00pm, Sunday to Thursday (excluding public holidays).

Refunds shall be processed on Monday 3 December 2018 by the Receiving Bank in one of the following forms, as applicable:

1. By way of refund cheques for Applicants who paid their Application Funds by way of manager’s cheques / demand drafts. Such Applicants shall be required to collect their respective refund cheques (if any) from the particular Approved Branch of the Receiving Bank at which they submitted their Application Forms, within 30 Calendar Days starting on the Distribution of Refunds Date;
2. By way of telegraphic transfers for Applicants who paid their Application Funds by way of telegraphic transfers. All bank charges for such telegraphic transfers shall be borne by the Applicant;
3. By way of crediting the Applicant’s bank account for Applicants who hold bank accounts with the Receiving Bank and have paid their Application Funds by way of internal transfers from such accounts; or
4. By way of crediting the Applicant’s account with the Participating Broker for those Applicants who have paid their Application Funds through such Participating Broker.

Commencement of Trading Trading in the Shares of APM on Bahrain Bourse is expected to commence on Sunday 9 December 2018.