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tTech Limited – Share Allocation Published: 09 January 2016

This is to advise that tTEch’s invitation for subscription and Sale in respect of 25, 652,000 ordinary shares at the price of $2.50 per share was successfully closed on December 16, 2015. A total of 289 applications for shares, valued at approximately $J172, 395 million, were received.   The basis for allotment has been finalized as follows:

  1. Reserve share applicants (35% of the shares offered) will receive 100% of the number of shares they applied for 
  2. Pursuant to the prospectus, 8% of the shares offered have been allocated at the discretion of the company’s Board of Directors. 
  3. Applicant for the general pool (57% of the shares offered) will receive 100% up to 10,000 shares applied for. The remaining shares will be  allocated on a proportional basis equivalent to approximately 19.96% of the total application amount.

TCL Appoints Director Published: 24 December 2015

Trinidad Cement Limited (TCL) has advised that Mr. Arun Goyal was appointed a director effective December 15, 2015 to fill a casual vacancy created by the resignation of Mr. Timothy Hamel-Smith who resigned effective September 29, 2015.

RJR Sets Record Date for Shareholders who Attend EGM Published: 24 December 2015

Radio Jamaica Limited has advised that the record date for the purpose of shareholders who may attend the Extra Ordinary General Meetings of Radio Jamaica Limited to be held on Wednesday, December 30, 2015 and Thursday, January 7, 2016 has been set for the close of business on Monday, December 28, 2015.

Gleaner Company Limited Sets Record Date for Shareholders Who Attend EGM Published: 24 December 2015

The Gleaner Company Limited has advised that the record date for the purpose of shareholders who may attend the Extra Ordinary General Meetings of the Gleaner Company Limited to be held on Wednesday, December 30, 2015 and Thursday, January 7, 2016 has been set for the close of business on Monday, December 28, 2015.

CPJ Announces Resignation of COO Published: 24 December 2015

Caribbean Producers Jamaica Limited (CPJ) has advised that Mr. Roger Williams, Chief Operating Officer has resigned effective December 18, 2015. 

H&L to Consider Dividend Payment Published: 24 December 2015

Hardware & Lumber Limited has advised that at a meeting scheduled for Wednesday, December 30, 2015, the Board of Directors will consider the payment of an interim dividend for the year 2015.

NCBJ AGM Announcement Published: 24 December 2015

The next Annual General Meeting of National Commercial Bank Jamaica Limited will be held at the Jamaica Pegasus Hotel, 81 Knutsford Boulevard, Kingston 5 on Thursday, February 25, 2016 at 3:00 p.m.

LASF Gets Approval for DBJ Line of Credit Published: 21 December 2015

LASCO Financial Services Limited (LASF) has advised that its application for funding under the Development Bank of Jamaica`s Micro Financing Institution`s line of credit has been approved. LASF is now eligible to draw down up to $100,000,000.00 for on-lending to micro-entrepreneurs.

JMMB Advises of Resignation of Director Published: 18 December 2015

JMMB Group Limited has advised that Mr. Aubrey Garcia has resigned as a director of JMMB Investments (Trinidad and Tobago) Limited and JMMB Securities (T&T) Limited effective December 16, 2015.

Information on RJR/Gleaner Merger Published: 17 December 2015

The following is further information to help shareholders of Radio Jamaica Limited and the Gleaner Company Limited assess the financial benefits of the proposed amalgamation, especially in terms of the anticipated synergies* of which the companies have spoken. Management has presented their respective boards with plans to capture expected pre-tax synergies in the range of J$275 - J$450 Million within the first two to three years of transaction completion:
 
1. Cost synergies, at conservative levels, could be in the order of J$200 to 300 million per year.
2. Additional revenue synergies from joint initiatives could yield in the order of J$75M to $150M
3. Management`s aim would be to recover the one-off cost of unlocking identified synergies, through annual savings
generated therefrom.
4. Capital avoidance through eliminating duplication of spend is expected to drive further value.
5. Transaction and advisory costs are estimated: J$100-150 million. This includes advisor costs (for legal, valuation,
Fairness opinions, other advisory), stamp duty, etc.