Seprod Strengthens Control of A.S. Bryden & Sons in Strategic Share Expansion

Port of Spain, Trinidad – June 10, 2025
Jamaica-based Seprod Limited (JSE: SEP) has expanded its ownership stake in its Trinidadian subsidiary, A.S. Bryden & Sons Holdings Limited (JSE: ASBH), from a majority position to an even more commanding 80%, following the completion of a public share offer initially launched in May 2025.

Though Seprod already held a controlling interest in ASBH prior to the transaction, the latest move marks a deliberate step to consolidate its influence over the regional distribution firm, in line with its long-term integration strategy across the Caribbean.

The Transaction: An Overview

• On May 1, 2025, Seprod made a public offer to acquire up to 447,491,012 ordinary shares in ASBH—representing 29.85% of ASBH’s outstanding shares.
• The offer, which was extended to June 9, attracted a strong response, with approximately 465.5 million shares tendered by shareholders. After verification and pro-rata allocation, 96.13% of tendered shares will be accepted.
• Payment will be made via the issuance of 177,398,223 new Seprod ordinary shares to eligible ASBH shareholders, expected to be fully allotted by June 21, 2025.

Strategic Implications of Increased Control

By expanding its shareholding to 80%, Seprod is poised to deepen its operational alignment with ASBH. This elevated level of control grants Seprod greater decision-making authority over key aspects of ASBH’s business, including:

• Supply Chain Integration: Enhanced control may streamline procurement, logistics, and distribution strategies across Jamaica and Trinidad and Tobago, improving cost efficiency and response times.
• Unified Strategic Direction: With fewer minority shareholder constraints, Seprod can pursue bolder moves in innovation, market penetration, and product diversification through ASBH.
• Capital Allocation: Seprod’s increased influence could accelerate capital investments in ASBH’s infrastructure, technology, and regional expansion, especially in light of Seprod’s broader Caribbean growth ambitions.

This development follows Seprod’s long-term strategy of building a vertically integrated manufacturing and distribution platform across the Caribbean. The company sees ASBH as a critical asset in this architecture, providing deep market access in Trinidad and Tobago and a platform for future growth into the wider CARICOM region.

Next Steps for Shareholders

• Shareholders who tendered shares will receive notification of their allotments by June 17, 2025, via Republic Wealth Management Limited (RWML).
• Settlement in the form of Seprod shares is anticipated by June 21, 2025.

Seprod has extended appreciation to all stakeholders for their support and reaffirmed its commitment to driving value for shareholders and customers alike across its expanding regional footprint.

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