Tropical Battery listed on the JSE

The excitement at the Jamaica Stock Exchange (JSE) was similar to a regular listing ceremony

with a large audience of stakeholders at the listing of Tropical Battery Company Limited on

October 15, 2020. The senior executives of the newly listed Company and representatives from

NCB Capital Markets Limited, lead broker for the Initial Public Offer (IPO) chose to join JSE’s

Managing Director, Mrs. Marlene Street Forrest and the Chief Regulatory Officer, Mr. Andrae

Tulloch, at JSE, to insert the listing strip on the JSE’s Junior Market Board and to capture the

Company’s historic occasion with a photo opportunity. Tropical Battery Company Limited’s

shares will trade on the Junior Market under the symbol TROPICAL.

Mrs. Marlene Street Forrest, Managing Director of the JSE, expressed delight that TROPICAL

decided to insert the strip on the Listing Board of the Junior Market with the photo sessions to

mark the Company’s market achievement, to be shared with stakeholders and generations of

investors to come.

Mr. Andrae Tulloch, JSE’s Chief Regulatory Officer, handed over the JSE’s Junior Market Rule

Book to the Company’s Managing Director, Mr. Alexander Melvin, which was captured in the

photo shoots.

On Tuesday September 29, 2020, approval was granted for the listing of TROPICAL’s ordinary

shares to the Junior Market. Due to the COVID-19 risk concerns, Company’s executives

decided not to host the traditional listing ceremony.

Tropical Battery Company Limited’s Prospectus was published on September 14, 2020. The

Offer opened on September 22, 2020, at the Invitation Price of $1:00 per share, for 325 million

units. The Offer was opened and closed on the same date due to an oversubscription by

approximately 50%.

At the photo session covering the TROPICAL’s strip insertion, Mr. Alexander Melvin, Managing

Director stated that, “The listing process was a great learning experience. We have seen the

benefits since listed coming from customers, suppliers, and good business opportunities arising.

The plan for the future is grow in the Caribbean by acquisitions of other battery storage type

businesses and hopefully in the next 3-5 years more than double the size of the business, with

renewable and electric EV storage,” he added.

“The listing was a good move and a good buy for investors. They will continue the growth of the

Company even in the current COVID-19 pandemic,” said Ms. Caryl Fenton, a Director of

TROPICAL.