Latest News

Carib Cement Disclosure Published: 20 March 2018

Caribbean Cement Company Limited (CCC) has advised that “on March 16, 2018 it signed a memorandum of understanding, as amended, modified, supplemented, restated and/or enhanced from time to time (“MOU”), with its holding company Trinidad Cement Limited (“TCL”) agreeing to the essential terms with respect to, mainly, the (i) termination of an operating lease agreement originally dated July 2, 2010, as amended, modified, supplemented, restated and/or enhanced from time to time (the “Lease Agreement”), signed by TCL as lessor and CCCL as Lessee and the corresponding purchase by CCCL of the assets object of the Lease agreement for approximately USD$118 million to be paid to TCL (the “Asser Acquisition”); (ii) redemption of an aggregate number of 52 million preference shares issued by CCCL to TCL in 2010 and 2013, for approximately USD$40.5 million to be paid over a nine-year period starting in 2018 and sourced from at least 1/3 (one third) of CCL’s profits available for distribution from the previous year (the “Redemption”); and (iii) financing options to fund the Asset Acquisition and the Redemption.

“The closing of the above transactions is subject to the satisfaction of certain conditions, including approval from TCL and CCL’s corporate bodies, securing financing options by CCL, the absence of occurrence or potential occurrence of any material tax and/or accounting effects if the above transactions are executed, among others. The definitive agreements in relation to the foregoing transactions are expected to be executed by TCL and CCCL within 90 days from the date of signing the MOU.”

138SL Appoints New Director Published: 20 March 2018

138 Student Living Jamaica Limited (138SL) has advised that at their Board Meeting on March 14, 2018, the Board of Directors approved the appointment of Mrs. Donnette Scartlett as a director of the company, effective March 15, 2018. 138 SL further advised that Mrs. Scarlett was also appointed a member of the Concession and Audit and Compliance Committees.

Berger Appoints New Board Member Published: 01 March 2018

Berger Paints Jamaica Limited (BRG) has advised that at a meeting of their Board f Directors on Tuesday, February 27, 2018, a Resolution was passed appointing Mr. Adam Sagba as a Director of the Company.

LASD Appoints New Financial Controller Published: 01 March 2018

Lasco Distributors Limited (LASD) has advised that Mrs. Shellyan Jackson was appointed in the position of Financial Controller for LASD, effective February 19, 2018.

KLE Appoints New Corporate Secretary Published: 01 March 2018

KLE Group Limited (KLE) has advised that the Company has a new Corporate Secretary,  Mr. Stephen Greig, effective March 1, 2018.

Seprod Limited (SEP) – Transfer of Musson Holdings to Seprod Limited Published: 17 January 2018

Seprod Limited (SEP) has advised that on January 1, 2018 the shares of Musson Holding Limited were transferred at a nominal cost from Musson (Jamaica) Limited to Seprod Limited. The incorporation of Musson Holdings Limited and its subsidiaries within the Seprod Group represents the consummation of SEP’s two-year plan to acquire the dairy operations and is another key milestone in the Group’s efforts to significantly expand its suite of milk-based products and broaden its reach in the export markets.

Scotia Announces AGM Published: 17 January 2018

Scotia Group Jamaica Limited (SGJ) has advised that their Annual General Meeting will be held on Thursday, March 8, 2018, at 10:00 a.m., at The Jamaica Pegasus Hotel, 81 Knutsford Boulevard, Kingston 5.

Proven Enters Agreement to Acquire Securities Dealer Published: 17 January 2018

Proven Investments Limited (ProvenJA) has advised of entering into an agreement to acquire 100% of the common shares of a licensed securities dealer with offices in Cayman and throughout the Caribbean. ProvenJA also advised that the offer is subject to regulatory approval within the various jurisdictions.

GK Acquires stake in Gray's Pepper Products Published: 17 January 2018

GraceKennedy Limited (GK) has advised that GK Investments Limited, a subsidiary of GraceKennedy has acquired a 33 1/3% stake in Gray’s Pepper Products Limited, one of Jamaica’s largest processors of seasonings and sauces.

GK further advised that GK Investments’ acquisition of the shares in Gray’s Pepper will allow for the investment necessary to grow the business’ current product portfolio locally and internationally. GK also states that the investment will further accelerate plans for research and development that will result in a more compelling and diverse product offering.

138SL Board Resignation Published: 05 January 2018

138 Student Living Jamaica Limited (138SL) has advised that Ms. Debbie-Ann Gordon has resigned as director effective December 24, 2017. 138SL further advised that Ms. Gordon’s resignation is due to professional commitments to her law practice.