iCreate Ltd Announces Transition to Kintyre Holdings (JA) Ltd.

• iCreate Limited has announced its planned transition to Kintyre Holdings (Ja) Limited and its appointment of Dr. Nick Rowles-Davies to its Board of Directors, effective September 9, 2024. The restructuring of iCreate to Kintyre Holdings (JA) Limited represents a strategic shift for the company as it aims to transform from a digital and creative training company to a diversified investment holding company.
• Rowles-Davies brings over 20 years of leadership experience in legal finance and investment management. As part of this transition, he will serve as Chairman of the Corporate Governance Committee and Chairman of the Investment Committee.
• iCreate’s reorganisation comes following significant compliance challenges, which resulted in two suspensions from the Jamaica Stock Exchange (JSE) over the past year. The most recent suspension was lifted on June 19, 2024, after the company addressed outstanding issues, including the submission of financial statements and appointment of a board mentor.
• It is anticipated that the new Committee Chairman will help shape the company’s investment strategy while enhancing corporate governance, transparency, and ethical business practices as the company attempts to revamp its business model.
• iCreate’s stock price is down 17.3% since the start of the calendar year. It closed at $0.43 at the end of Wednesday’s trading session. At this price, iCreate trades at a P/E of 11.0x, which is below the Junior Market “Others” sector average of 15.8x.

(Sources: JSE & NCBCM Research)