Proven Increases its Equity Stake in Knutsford Express

Proven Investments Limited (PROVEN) has advised that its total equity holdings in Knutsford Express Services Limited (KEX) now stands at 20,000,002 units or 20% of the participating voting shares following its recent acquisition of KEX shares. PROVEN further advised that the purpose of the acquisition of KEX shares is to consolidate the holdings of KEX, so that KEX can be characterised as an associated company of PROVEN. PROVEN advised that it does not intend to conduct further purchases of equity in KEX. However, should PROVEN intend to purchase five percent or more of the participating voting shares of KEX a notification will be given to the Jamaica Stock Exchange (JSE). PROVEN further advised that it does not intend to acquire control of the business nor majority shareholding of KEX. However, should PROVEN intend to do so it will be communicated in writing to the JSE.