Latest News

GraceKennedy Ltd (GK) to Acquire Stake in Catherine’s Peak Brand Published: 18 June 2018

GraceKennedy Limited (GraceKennedy) last Monday announced that it will acquire a 35% share in Catherine’s Peak pure spring bottled water brand, which is owned by Peak Bottling Company Limited (PBCL), subject to further due diligence. The acquisition is being undertaken following the signing of a binding memorandum of understanding between GraceKennedy and PBCL at GraceKennedy’s Harbour Street offices. 

GraceKennedy has also been appointed as the exclusive distributor for the Catherine’s Peak brand which will immediately benefit from GraceKennedy’s extensive distribution network.

 

Source: Jamaica Stock Exchange

Kingston Properties Limited (KPREIT) Share Buyback Published: 18 June 2018

Kingston Properties Limited (KPREIT) has advised of the decision of their Board of Directors to repurchase up to 0.75% of the Company’s issued shares as part of a buyback programme and that 2,400 KPREIT shares were purchased under this programme on June 13, 2018.

 

Source: Jamaica Stock Exchange

CAC 2000 Limited (CAC) Declares Dividend Published: 12 June 2018

CAC 2000 Limited (CAC) has advised that their Board of Directors at the Board meeting  on May 30, 2018, unanimously voted in favour of an interim dividend payment on ordinary shares based on the CAC’s 6 months results as follows:

  • Dividend Payment Date: July 16, 2018
  • Record Date: June 29, 2018
  • Ex-Dividend Date: June 28, 2018
  • Payment per share: $0.08
  • Total # Shares: 129,032,258
  • Total Value: 10,322,580.64
 
Source: Jamaica Stock Exchage

Barbados Announces Departure of IMF Mission and Appointment of Legal Advisor. Published: 11 June 2018

The Government of Barbados announced [on Friday] that a team from the International Monetary Fund (IMF), led by Bert van Selm, has concluded its three-day visit to Barbados.

During this visit, the Fund team was updated on the economic and financial situation in Barbados.

Preliminary discussions were held on the key challenges faced by the Government, including the country’s very low level of international reserves, its unsustainable debt, and the need to develop an economic plan designed to address current imbalances and create the conditions for sustained broad-based growth.

The Government and the IMF will continue to exchange views over the coming weeks and expect to be able to commence detailed discussions regarding Barbados’s economic reform programme in the coming weeks—a programme that the IMF will be asked to support with financial assistance.

The Government also announced that is has retained the services of Cleary Gottlieb Steen & Hamilton LLP as external legal advisor in the context of the planned debt restructuring that was announced on June 1,  2018.

Information for creditors will be posted periodically at http://gisbarbados.gov.bb/creditors/.

 

Source:  Barbados Government Information Service