CUBA.RGT Subscription Rights

THE HERZFELD CARIBBEAN BASIN FUND, INC. (CUBA.US) announced that CUBA.RGT holders may exercise rights at the estimated subscription price of US$2.57 per share. The Fund may, but is not required to, issue up to an additional 200% of the number of shares issued in the Primary Subscription, or up to 14,301,346 additional shares of Common Stock, for an aggregate total of 21,452,019 shares of Common Stock. Participants are advised to refer to the Prospectus dated, November 7, 2023, for complete details of the rights offer. Participants should consult their tax advisor for complete details in reference to withholding taxes.

Subscription ratio: 1 share of stock for every 1 right subscribed

Subscription price: USD 2.57

The terms of the offer are as follows:

Option (1): Take no action [Default option]

Option (2): EXERCISE RIGHTS, each subscription right will entitle the holder to purchase 1 share of HERZFELD CARIBBEAN BASIN FUND INC. stock (CUSIP 42804T106) the estimated subscription price of US$2.57 per whole share

Rights are non-transferable.

Oversubscription is not supported.

The deadline to submit instructions for exercise will be 21/11/2023@ 16:00 (HONG KONG GMT+8).

Please fill in the following information and use the registered email address of Futu to send an email to cs@futuhk.com.

1. Account Number:
2. Name: (In Chinese or English)
3. Stock code: CUBA.RGT
4. Options: (1) or (2)
5. Number of shares participating in corporate actions:

Note to applicants:
1. For shareholders holding less than 1 share of CUBA.RGT, they cannot participate in related corporate actions.
2. Option (1) is the default option. We will help clients to choose option (1) if have not received clients’ emails.
3. Once the relevant application is submitted, the stocks participating in the company's actions cannot be traded and the application cannot be withdrawn.
4. This corporate action does not accept additional applications, the maximum number of applications that a client can apply for does not exceed the number of eligible shares it holds.
5. The pending orders and unsettled shares will not be accepted for the time being.
6. Please confirm that the account funds are sufficient to pay the relevant fees of this corporate action. Otherwise, we will not bear any responsibility for the failure of your application.
7. If there is any update, all the information released by the listed company shall prevail.

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