Latest News

Jamaica's Macroeconomic Indicators Continue to Improve Published: 28 May 2018

Bank of Jamaica Governor, Brian Wynter, says Jamaica's overall economic indicators continue to improve.   Among the conditions he highlighted are:

- Low inflation, which is expected to remain on the lower end of the bank's target of 4%-6%.

- NIR reserves are increasing and balance of payments are expected to remain at sustainable levels.

- Market interest rates are at record lows and are on a downward trajectory.

- Fiscal performance remains strong.

 

Source: Gleaner May 28, 2018

Sagicor Investments Jamaica Limited – Basis of Allotment for Sygnus Credit Investments Limited Published: 28 May 2018

Sagicor Investments Jamaica Limited has advised of the Closing and Basis of Allotment to subscribers of the issue of 90,909,091 ordinary shares in two classes; at a subscription price of US$0.11 per US$ Share and J$13.72 per $J Share.  The Offer, made subject to the prospectus of Sygnus Credit Investments Limited, dated April 20, 2018, closed on May 16, 2018.

Further to an oversubscription, the prospectus outlined the Company’s right to upsize. The Company upsized the Reserve Share Applicant Pool by 100% to 80,000,000 Ordinary Shares; while the General Public Pool was upsized by approximately 117.67% to 110,818,060 ordinary shares.

The methodology and allotment of ordinary shares are as follows:

1. Sygnus Employees

These applicants were allocated 100% of the amounts applied for.

 2. Existing Shareholders

These applicants were allocated 100% of the amounts applied for.

3. All other Reserve Share Applicants

These applicants were allocated up to a maximum of 264,892 units of the amounts applied for.  Excess amounts above this maximum were allocated from the General Public Pool.

4. General Public Pool

Of the applications received, the first 51,000 units were allocated 100%. The balance in excess of 51,000 units were allocated approximately 34.17%

JMMB Group Ltd (JMMBGL) Declares Dividend Published: 25 May 2018

JMMB Group Ltd (JMMBGL) has advised that at a meeting of the Board of Directors of JMMBGL, held on May 24, 2018, the directors declared a dividend of Twenty Seven Cents ($0.27) per ordinary share payable to shareholders on record as at June 7, 2018, to be paid on June 29, 2018. The ex-dividend date is June 5, 2018.

KLE Group Ltd (KLE) – Trading in Shares Published: 25 May 2018

KLE Group Ltd (KLE) has advised that on May 22, 2018, a director sold 1,405,405 KLE shares and another director purchased 1,405, 405 KLE shares.

Kingston Properties Limited (KPREIT) – New Loan and Sale of Condos in Florida Published: 25 May 2018

Kingston Properties Limited (KPREIT) has advised that on May 23, 2018, KPREIT completed a further advance on an existing loan facility with Terrabank, N.A. in Florida, and that the sum of the advance was USD800,000.00, which will be used for acquisition of new properties.

KPREIT further advised that the Company closed on the sale of a condo unit at the Loft II in Downtown Miami and is in negotiations for the sale of two other units in that building.  KPREIT states that the units were acquired in June 2010 as part of their initial foray into the US market.

Kingston Wharves Limited (KW) has advised that a connected party sold 14,000 KW shares on May 17, 2018. Published: 24 May 2018

Key Insurance Company Limited (KEY) has advised that upon the recommendation of the KEY Audit Committee, the Board of Directors passed a resolution via round robin on 21 May 2018 for the declaration of a dividend of $0.029 per stock unit out of earnings for the year ended 31 December 2017 to shareholders on record as at 4 June 2018, payable 20 July 2018. Ex-date June 1, 2018