Derrimon Trading Company Limited’s APOopening January 6, 2021

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We’ve come a long way.

Be part of what comes next.

In 1998, Derrimon Trading Co. Limited (DTL) began with shipping containers of sugar and a vision of what it could become. Twenty-two years later, that container has expanded into a multi-subsidiary company, with interests across the entire spectrum of manufacturing and distribution sectors.

With an eye on expanding further across the region and into the Caribbean diaspora worldwide, Derrimon Trading Co. Limited, is pleased to partner with savvy subscribers.

Feeding Families. Fuelling Change.

Derrimon has grown from a single shipping container to a multi-billion dollar company spanning multiple subsidiaries. Their business savvy has maintained productivity and profitability even in the pandemic. They’re ready to grow with this APO. Are you?

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Derrimon has been a part of Jamaica’s story for over two decades, powering meals, markets, manufacturing and making millions in profit. The company has grown to become Nestle’s number one Jamaican sub-distributor, and the top national distributor for rice. They've demonstrated that their vision and strategy are the keys to unlocking growth in any economic situation- even a pandemic. With this APO, they’re poised for their next phase of success.

Derrimon owns approximately 62.02% of Caribbean Flavours and Fragrances Limited (“CFF”), which is the premier manufacturer and distributor of flavours powering Jamaica’s favourite foods and beverages from Pepsi, Wray & Nephew, Trade Winds Citrus and WISYNCO. CFF, which is listed on the JSE, also manufactures fragrances for household, general cleaning and sanitation purposes.

Derrimon provides a high-end retail grocery shopping experience with its 60.00% interest in the Select Grocers Supermarket located in Upper Manor Park Plaza in St. Andrew, stocked with an extensive array of in-demand brands, including Derrimon’s own Delect family of foods.

Derrimon used to park their shipping containers on Sampars lots. Now, the company owns the business and assets of Sampars Cash ‘N’ Carry Limited, establishing it as a separate trading division of the Company. Since the acquisition, Sampars has expanded to include seven (7) outlets and become a pioneer in food remittance, allowing persons worldwide to send necessary goods to friends and family across the island.

Wooden pallets carry the manufacturing and distribution industries, as the sole means of packing, shipping and storing large volumes of goods. Woodcats International Limited (“Woodcats”), a wholly-owned subsidiary of the Derrimon family, is the largest manufacturer of wood pallets in Jamaica. They also sell other byproducts of wood such as mulch and distribute plastic pallets.

Price per New Ordinary Share

“We’re proud of how profitable we’ve become in a relatively short time. We’re even prouder of what we know comes next. We’re looking forward to partnering with every subscriber who participates in our APO at the compelling prices listed here.”

- Derrick Cotterell

  • J$2.20
    Existing Shareholders or
    Derrimon Team Member Reserved Shares
    New Ordinary Shares Available For Subscription: 484,387,164
  • J$2.40
    Key Investor Reserved Shares
    New Ordinary Shares Available For Subscription: 378,427,472
  • J$2.40
    Lead Broker’s Clients Reserved Shares
    New Ordinary Shares Available For Subscription: 151,370,989
  • J$2.40
    Non-Reserved Shares
    New Ordinary Shares Available For Subscription: 484,513,306
MINIMUM SHARE PURCHASE
1,000 New Ordinary Shares with subsequent amounts in multiples of 100
OPENING DATE
Wednesday, January 6, 2021 at 9:00 a.m.
CLOSING DATE
Tuesday, January 26, 2021 at 4:30 p.m.


We plant. We feed. We grow.

Our success is driven as much by the desire to serve as the need to sell. The community-minded strategy has seen the Derrimon brand first begin with an idea and a plan to become a titan in its field. Now we are set to expand not just within our original industry of distribution, but also within our other business lines including our manufacturing, retail and wholesale sectors.

Our relentless pursuit of excellence speaks for itself with our roster of accomplishments:

  • We navigated a contracting market, during a pandemic, and emerged with record profits

    applying an aggressive and focused approach on efficiency, product availability, service delivery and customer service.

  • We deliver stellar return on equity at an average of 26.43%

    driven by record net profit growth over the past 5 years with a CAGR of 34.77% well above our peers.

  • We have superior asset turnover at an average of 3.11 times

    over the past 5 years ... achieved by moving large volumes of inventory at scale through sales and distribution across a number of supermarkets within the DTC portfolio and beyond.

  • We have mastered strategic acquisitions

    identifying sound opportunities and skilfully executing same for profitability including Sampars, Select Grocers Supermarkets, Caribbean Flavours and Fragrances and Woodcats International.

  • We dominated the Junior JSE with our share price being up over 200%* since December 2017

    continuing to outperform other listed distribution entities and leading the pack in shareholders’ earnings growth.

We’re primed for the next level of success. Build with us.

*past performance is not a guarantee of future performance.
WHAT IS AN APO?

An Additional Public Offering or APO allows a company to offer additional shares to potential new or existing shareholders, which in this case is up to 1,498,698,931 New Shares, with the option to upsize by inviting offers for an additional 301,301,069 New Shares.

USE OF PROCEEDS

In this stage, we’re taking our passion and our products into even more communities as we eye expansion into the wider region, as well as making targeted inroads to the wider Caribbean Diaspora across the globe while improving our efficiency through the modernisation of our digital capacity. This means we are focusing on:

  • Improving Logistics Management (enhancing warehouse capabilities and logistics);

  • Growing the Supply Chain;

  • Implementing a Technology Platform (focusing primarily on optimizing Retail and Distribution Management) which will ultimately enhance its client relationship management;

  • Expanding the Retail and Distribution Channels to include a modern full-service, one-stop shopping experience and the development of a wider Delect product offering focused primarily on consumables;

  • Modernising the pallet business

Apply online with BOSS

BOSS is Barita's digital online securities solution tool that will allow applicants to submit applications for EPOs (Electronic Public Offerings).

How To Apply

Join us as we make strides that may prove profitable to us all. Thank you for joining us on this bold new journey. Please review the full terms and conditions of the invitation in the Prospectus before responding to the offer.

Application Requirements

  • An active JCSD account

  • Government issued photo ID

  • See Section 6.4 of the Prospectus for full application requirements

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