Latest News

Scotia Group Announces Dividend Published: 12 June 2017

Scotia Group Jamaica Limited (SGJ) has advised  that their Board of Directors on June 8, 2017, approved an interim dividend of 45 cents ($0.45) per stock unit, which is payable on July 20, 2017, to stockholders on record as at June 28, 2017.  The ex-dividend date is June 26, 2017.

JPS Board Announces Appointment of New CEO Published: 12 June 2017

The Majority Shareholders of JPS are very pleased to announce the appointment of Mr. Emanuel DaRosa as President and CEO, effective August 1, 2017. Emanuel is extremely pleased to accept this assignment, to build on the excellent work of his predecessor, Ms. Kelly Tomblin and to serve the people of Jamaica. He has successfully led prior organizations to achieve top quartile performance by adopting best in class practices and processes ultimately achieving employee, operational and customer service excellence. For the last six years, Mr. DaRosa has served as the CEO of the Northwest Territories Power Corporation (NTPC) where he led the organization to becoming an industry leader within Canada. NTPC owns and operates 27 isolated grid systems utilizing diesel, hydro, liquified natural gas, wind and solar in one of the world’s harshest climates. Concurrently he sat on the Board of Directors of district heating firm, Aadrii Corporation for 5 years. Emanuel is also experienced in high level government relations and policy development including working as the Deputy Minister in support of Ministers and the Premier of the Northwest Territories. Creating alignment between Government, the Board of Directors and Senior Management has led to effective energy policy, an energy plan, as well as substantial customer programs being successfully implemented through his efforts. His leading edge leadership has led to nominations of several energy committees at the Provincial and Territorial level that are helping shape the utility industry in Canada. Emanuel has 26 years of electrical utility experience working in the areas of distribution, transmission and generation. He has previously held the positions of Vice President of Operations & Engineering, T&D Asset & Investment Manager, Design Supervisor, Distribution Engineer, Plant Engineer and Transmission System Designer with Thunder Bay Hydro, Brookfield Renewable Power and Ontario Hydro. While with Ontario Hydro, he received the President’s award for innovation in diesel generation plant design. With a professional engineering license in Canada and an Executive Masters in Business Administration, along with certifications in Balanced Scorecards, Emanuel describes himself as a lifelong learner. Emanuel was born on the Island of Sao Miguel in the Azores, Portugal and migrated to Canada at the age of three with his working class family. He was the first in his extended family to complete a university education, graduating with Honours. He is quite active playing soccer, baseball, golf, hockey, and enjoys riding his motorcycle as well as snowmobiling which he now hopes to replace with surfing. Sherry, his wife of 21 years, and Deanna, his daughter, will accompany Emanuel to Jamaica while Daniel, his son, will attend the University of Alberta Physiology program working his way to medical school. Mr. and Mrs. DaRosa look forward to living on the Island, getting involved in the community and helping the people of Jamaica. 

Proven Investments Limited – Renounceable Rights Issue Published: 12 June 2017

Proven Investments Limited (ProvenJA) has advised that their Board of Directors approved the following resolution at the Board Meeting held on May 25, 2017:

“that:
    
(a)   the Company be and is hereby authorized to offer for subscription up to 68,949,472 ordinary shares of US$0.01 par value in the capital of the   Company (the “Share”) and ranking pari passu in all respects with the existing issued ordinary stock units of US$0.01 par value in the capital of the Company at an offer price in cash to be determined by the Directors of the Company in accordance with the Articles of Association of the Company, such offer to be made as a renounceable rights issue, on terms whereby:
 
           (i) each existing ordinary shareholder of the Company as at such record date as may be determined by the Directors (hereafter, an “Eligible Member”) shall be entitled to apply for up to one (1) new Share for every block of eight (8) ordinary stock units held (with fractions of a block being disregarded), and
 
           (ii) such Eligible Members may elect to renounce the provisional allotment of some or all of the Shares allocated to them in the offer in favour of a person of their choice, whether or not such person is also an Eligible Member; and
    
(b)   that such ordinary shares as are applied for pursuant to the offer in respect of which application are accepted by the Directors, be issued and allotted in accordance with the terms and conditions of such offer, which terms and conditions shall be determined by the Directors in their sole discretion and set out in a prospectus to be issued by the Company under authority of the Directors in connection therewith.
    
(c)   that such ordinary shares as are issued and allotted by the Directors in accordance with the foregoing resolutions shall be converted to ordinary stock units of US$0.01 par value in the capital of the Company upon issue.”

Derrimon Trading Company Limited Issues new secured note Published: 09 June 2017

Derrimon Trading Company Limited Issues new secured note Kingston – Derrimon Trading Limited, in an effort to refinance its current US dollar debt, recently closed a bond issue valued at J$250 million. The secured note, which was structured and brokered by Mayberry Investments Limited, was privately issued under exempt distribution guidelines. It is tenured at 24 months and offers a coupon of 10.25 per cent per annum. Derrimon Trading Limited has experienced robust growth since listing on the Junior Market of the Jamaica Stock Exchange (JSE) in 2013. Since its listing, the company has acquired a 75.02 per cent ownership stake in fellow Junior Market listed company, Caribbean Flavours and Fragrances Limited, expanded its retail footprints under the Sampars brand to 7 locations islandwide and launched a second grocery chain under the Select Grocers which was open in March 2017. The company’s growth has been reflected in its stock price, which has quadrupled since its opening price of $2.05 per share. Speaking on the new issue, Chairman and CEO Derrick Cotterell, spoke about the company’s continuing efforts to maximise its potential. “We continue to seek opportunities to grow our operations and with our financial partners, Mayberry Investments, we are working to find the best financial solutions in the short, medium and long term. Our goal was always, and will continue to be strengthening our company and creating the best value for all our stakeholders”. Mayberry Investments’ CEO, Gary Peart lauded the leadership at Derrimon Trading, highlighting the strides they have made in the last 3 years. “The tremendous growth that the team at Derrimon is experiencing is an example of the objective we have for all the companies we list. Derrimon has been taking full advantage of the benefits received from listing on the Junior Market and they have created opportunities to add value for its shareholders. We look forward to continuing to work with them and to guiding them to achieving maximum growth”. Derrimon Trading are operators of the Sampars outlets, which offers customers the ability to place orders online. The Company has in its distribution portfolio lines such as, Nestle, Supligen, Golden Brand and Sun Detergent out of Suriname, Linstead Market, Blue Power Home Choice and its in-house Delect Brand. Derrimon Trading Company Limited Derrimon Trading Company Limited is a public company incorporated under the laws of Jamaica with its registered office located at 233 - 235 Marcus Garvey Drive, Kingston 11. Derrimon’s ordinary stock units are listed on the Junior Market of the Jamaica Stock Exchange and trade under the ticker: DTL. Derrimon is a distributor of dry and frozen bulk commodities. It also operates a retail division through its seven (7) Sampars Cash ‘N’ Carry locations. Derrimon also sells its own brand of products under the brand name Delect. Further information on Derrimon Trading Company Limited can be found on its website at www.derrimon.com.

Panjam Investment Limited (PJAM) Private Bond Placement Published: 09 June 2017

Panjam Investment Limited (PJAM) has advised that on June 1, 2017, in accordance with exemptions granted by the Financial Services Commission, successfully raised $2.687 Billion by way of a Private Bond Placement.

PJAM advised that the funds raised were allocated as follows:

  • Tranche A – $1,195,000,000 (2020) – fixed at 8.25%
  • Tranche B – $1,492,000,000 (2025) – fixed at 9% for the first four years, then varies at 2% above the 6-month Treasury Bill rates for the next four years.

Press Release - JPS Published: 09 June 2017

The Majority Shareholders of JPS are very pleased to announce the appointment of Mr. Emanuel DaRosa as President and CEO, effective August 1, 2017. Emanuel is extremely pleased to accept this assignment, to build on the excellent work of his predecessor, Ms. Kelly Tomblin and to serve the people of Jamaica. He has successfully led prior organizations to achieve top quartile performance by adopting best in class practices and processes ultimately achieving employee, operational and customer service excellence. For the last six years, Mr. DaRosa has served as the CEO of the Northwest Territories Power Corporation (NTPC) where he led the organization to becoming an industry leader within Canada. NTPC owns and operates 27 isolated grid systems utilizing diesel, hydro, liquified natural gas, wind and solar in one of the world’s harshest climates. Concurrently he sat on the Board of Directors of district heating firm, Aadrii Corporation for 5 years. Emanuel is also experienced in high level government relations and policy development including working as the Deputy Minister in support of Ministers and the Premier of the Northwest Territories. Creating alignment between Government, the Board of Directors and Senior Management has led to effective energy policy, an energy plan, as well as substantial customer programs being successfully implemented through his efforts. His leading edge leadership has led to nominations of several energy committees at the Provincial and Territorial level that are helping shape the utility industry in Canada. Emanuel has 26 years of electrical utility experience working in the areas of distribution, transmission and generation. He has previously held the positions of Vice President of Operations & Engineering, T&D Asset & Investment Manager, Design Supervisor, Distribution Engineer, Plant Engineer and Transmission System Designer with Thunder Bay Hydro, Brookfield Renewable Power and Ontario Hydro. While with Ontario Hydro, he received the President’s award for innovation in diesel generation plant design. With a professional engineering license in Canada and an Executive Masters in Business Administration, along with certifications in Balanced Scorecards, Emanuel describes himself as a lifelong learner. Emanuel was born on the Island of Sao Miguel in the Azores, Portugal and migrated to Canada at the age of three with his working class family. He was the first in his extended family to complete a university education, graduating with Honours. He is quite active playing soccer, baseball, golf, hockey, and enjoys riding his motorcycle as well as snowmobiling which he now hopes to replace with surfing. Sherry, his wife of 21 years, and Deanna, his daughter, will accompany Emanuel to Jamaica while Daniel, his son, will attend the University of Alberta Physiology program working his way to medical school. Mr. and Mrs. DaRosa look forward to living on the Island, getting involved in the community and helping the people of Jamaica.

Access Financial Services Ltd Declares Dividend Published: 15 May 2017

Caribbean Flavours and Fragrances Limited (CFF) has advised that their Board of Directors will meet on Monday, May 15, 2017 to consider the payment of an interim dividend.

Panjam Investment Limited Declares 2nd Dividend for 2017 Published: 15 May 2017

Panjam Investment Limited (PJAM) has advised that their Board of Directors at the Board Meeting  on May 11, 2017, adopted a Resolution to declare a second interim dividend for the year 2017, in the amount of Twenty Cents ($0.20) per stock unit, payable on June 22, 2017, to stockholders on record as at the close of business on May 29, 2017.  The ex-dividend date is May 25, 2017.

Eppley Limited Declares Dividend Published: 15 May 2017

Eppley Limited (EPLY) has advised that at a meeting of their Board of Directors on May 11, 2017, an ordinary dividend of 3.72 cents or $0.0372 per share was declared, to be paid on June 2, 2017, to all shareholders on record as at May 19, 2017.  The ex-dividend date is May 17, 2017

Pulse Investments Limited – Stock Split Consideration Published: 15 May 2017

Pulse Investments Limited (PULS) has advised that at the Board Meeting scheduled to be held May 22, 2017, in considering the resolution for a split in the company’s stock, the Board will also consider and if thought fit, pass the following resolution:
 
1. That the authorized share capital of Pulse Investments Ltd, be increased from 450,000,000 (four hundred and fifty million) shares of no par value, to 1,950,000,000 (one billion, nine hundred and fifty million) shares of no par value, by the creation of an additional 1,500,000,000 (one billion, five hundred million) shares.
 
PULS further advised that any resolution passed by the Board, will go to a General Meeting to be voted on by the shareholders of Pulse Investments Ltd.