• Scotia Group Jamaica Limited’s (SGJL; ticker: SGJ) shareholders are set to vote on October 7 on the proposed scheme that would see Scotiabank Caribbean Holdings Limited (SCHL) acquire the shares held by SGJL minority stockholders for J$61.50 per stock unit. This would take the Jamaica Stock Exchange-listed company private if approved and sanctioned by the Court.
• The J$61.50 offer represents a premium to recent trading levels. According to the Scheme Booklet, the consideration is about 13.3% above SGJL’s June 11th closing price of J$54.30, while premiums to the three-month and one-year volume-weighted average prices are approximately 18.5% and 17.0%, respectively.
• SGJL’s Independent Committee engaged Ernst & Young as its financial adviser and received a fairness opinion on the original J$60 offer. Scotia subsequently increased the consideration to J$61.50 and added an option for minority shareholders to receive their proceeds in US dollars, subject to the specified exchange-rate mechanism.
• The Court-ordered meetings for SCHL and SGJL minority stockholders are scheduled for October 7, 2026, at AC Hotel by Marriott in Kingston. Approval requires at least a majority in number representing 75% of those present and voting at each applicable meeting. SGJL’s Board, with directors having material relationships with Scotiabank affiliates abstaining, unanimously recommended that minority shareholders vote in favour of the transaction.
• Shareholders are encouraged to submit proxy forms, with completed proxies for the SGJL Minority Stockholder meeting due by 11:00 a.m. on October 5th. If approved, the Scheme is expected to go before the Court for final sanction on October 30th, with settlement targeted for 10 business days after the effective date.
• At the close of market on August 8, 2026, SGJ share price has increased by 10.1% since the start of the year to close at $58.52, which is now 5.1% below the $61.50 offer price. At its current price, SGJL trades at a price-to-book (P/B) ratio of 1.07x, which is above the Main Market Financial sector average of 1.0x.

(Sources: JSE & NCBCM Research)

• Europe is already one of the largest buyers of Guyana’s crude, but its interest in the country is increasingly extending beyond oil and gas, according to Private Sector Commission (PSC) Chairman Gerry Gouveia Jr.
• During the August 10 edition of the Energy Perspectives podcast, Gouveia said European governments and businesses are now looking at Guyana as a potential source of other commodities and as a broader trading partner. He identified agriculture, timber and logistics as areas of interest for Europe.
• Gouveia described France as a particular area of growing interest after recently presenting Guyana’s investment opportunities to the country’s minister of foreign trade, private sector organisations and government business development agencies. He said the growing European interest presents an opportunity for Guyana to attract more foreign capital while strengthening local businesses.
• The broader interest comes as Guyana’s oil industry strengthens its commercial ties with Europe. European countries accounted for about 66% of Guyana’s crude exports in 2024, according to shipping data from London Stock Exchange Group. Europe continues to take the lion’s share of crude exports from Guyana.
• Guyana now produces four crude grades from the Stabroek Block, including Liza, Unity Gold, Payara Gold and Golden Arrowhead.

(Source: Oil Now Guyana)

• Sunrise Airways has launched a new nonstop route between Antigua and Barbuda and Barbados, adding twice-weekly service aimed at improving regional travel and strengthening economic and tourism ties between the two Caribbean nations.
• The inaugural flight departed V.C. Bird International Airport in Antigua on Wednesday morning and landed at Grantley Adams International Airport in Barbados about one hour and 20 minutes later. The new service will operate on Wednesdays and Sundays, giving travelers a direct option between the two islands.
• Sunrise Airways CEO Gary Stone said the new route reflects the airline's goal of improving regional connectivity. "The arrival of Sunrise Airways to Barbados will strengthen commercial, tourism and cultural ties while promoting economic growth and deeper integration across our Caribbean community as One Caribbean."
• The Caribbean remains Barbados' third-largest source market. Last year, the country welcomed more than 102,000 visitors from across the region, a 7.8% year-over-year increase and a testament to the growing strength of intra-Caribbean travel. As such, the new route would help expand opportunities for tourism, business and cultural exchange while improving connectivity across the region.
• Sunrise Airways said the Antigua-Barbados service is part of a broader expansion of its intra-Caribbean network. By the end of 2026, the airline expects to serve 23 destinations across 15 countries.

(Source: Caribbean News Weekly)