National Commercial Bank Jamaica Limited has advised that Mr Warrick Ward has been appointed Country Manager/Chief Executive Officer of NCB Capital Markets (Barbados) Limited effective October 19, 2015.

The Board of Directors of Access Financial Services Limited had declared a dividend of $0.12 per share payable on November 26, 2015 to shareholders on record as at November 12, 2015. The ex-dividend date is November 10, 2015.

Radio Jamaica Limited (RJR) and The Gleaner Company Limited (Gleaner) on October 23, 2015 updated their respective shareholders regarding the proposed amalgamation of the media businesses announced on August 5th, 2015, by way of a court approved scheme. RJR and Gleaner have settled with The Jamaica Stock Exchange the corporate actions proposed to be taken by RJR to increase its number of shares and the listing with the Exchange of the new shares on the same terms and conditions as those applicable to the existing RJR ordinary shares at the time of listing. The Financial Services Commission has confirmed that no take-over offer will be required to be made consequent on the sanction of the scheme by the Court. The Broadcasting Commission of Jamaica (BCJ) has approved the change of ownership and control of Independent Radio Company Limited in the event the scheme is approved and implemented.

 

Discussions are being held with the BCJ regarding a condition of their approval. The Fair Trading Commission (FTC) was provided with a copy of the signed agreement and discussions have been held with them. The Company awaits their advice with respect to any authorisation which they may consider to be required. The directors of both RJR and Gleaner have advised the FTC that they do not consider that the proposed amalgamation will constitute a breach of section 17 of the Fair Competition Act.

 

Each of the companies is now finalizing with its advisors and auditors the draft Explanatory Statement required for circulation to the shareholders under the Companies Act and anticipates that an application to the Court will be made before the end of October, for an order directing the holding of the Extraordinary General Meetings of each of RJR and Gleaner to consider, and if thought fit, approve the scheme. The Court will set the date for the holding of these Extraordinary General Meetings and direct that Notices of these Meetings and the required Explanatory Statements be simultaneously sent to all shareholders. The Explanatory Statement will provide full details of the proposed amalgamation and indicate the documents that will be available for inspection.

National Commercial Bank Jamaica Limited has advised that Miss Nadeen Matthews and Miss Janelle Prevost, both Senior Assistant General Managers, will have changes in their executive portfolio assignments effective November 1, 2015. Miss Nadeen Matthews will assume the role of Chief Digital and Marketing Officer. As Chief Digital Officer she will drive the digital transformation across the NCB Group of Companies. Nadeen will continue to lead the Group`s Marketing & Communications and Enterprise Information Management functions; and she will also remain as Chief Executive Officer of the NCB Foundation. Janelle Prevost who joined the organisation as the Transformation Officer, will now also assume responsibilities for the NCB Group`s Strategy and will work with the leadership of the organisation to effect strategic plans for the Bank and its subsidiaries.

The Annual General Meeting of Caribbean Producers (Jamaica) Limited will be held at 3:00 p.m. on Monday, February 8, 2016 at Secrets Resort & Spa, Montego Freeport, St. James.

The Board of Directors of Eppley Limited will meet on November 12, 2015 to consider the payment of an interim dividend to shareholders.

The Board of Directors of Jamaica Public Service Company Limited will be considering by way of Round Robin Resolution declaration of quarterly dividends for the quarter ending September 28, 2015 payable on November 24, 2015 to shareholders on record on November 13, 2015 on its Class F Cumulative Non-Redeemable Preference Shares.

On October 21, 2015 Kingston Properties advised that it had completed the purchase of real estate properties with the funds raised during its Rights Offer. This includes the purchase of 5 condominium apartments at the Midblock located in midtown Miami at 3301 NE 1st Avenue for a purchase price of $2.2 million. Midblock is within 10 minutes from cultural venues including Adrienne Arsht Center for the Performing Arts, New World Symphony, Perez Art Museum Miami, American Airlines Arena, downtown, Miami and Miami Beach and a plethora of shops and restaurants. Amenities at the apartments include generous private terraces, appliances, walk-in closets, full sized washer/dryer, custom wood cabinetry and stone counter tops. Kingston Properties also purchased 4 condominium apartments for $3.1 million at The Residences at W Fort Lauderdale located close to Ft. Lauderdale`s vibrant Downtown, Las Olas and Riverfront Place.

 

These fully furnished apartments have access to spa services, a fitness center, swimming pools, oceanfront dining, miles of sandy beachfront and the full complement of services that the 5-star W hotel offers.

The Board of Directors of The Palace Amusement Company (1921) Limited (PAL) has declared a dividend of $1.75 per share payable on January 19, 2016 to shareholders on record as at January 8, 2016. The ex-dividend date is January 6, 2016. The Annual General Meeting of PAL will be held on Tuesday, December 8, 2015 at 2:00 p.m. at 1a South Camp Road, Kingston.

GraceKennedy Limited (GK) advised on October 16, 2015 that after its initial announcement in May of this year regarding the planned divestment of its shares in subsidiary, Hardware & Lumber, and follow up announcement in June, that it had entered into a conditional agreement for the sale of the shares with Greystone Equity Partners Inc., or nominee, GK has advised that the main conditions of the transaction have now been met and the transaction will therefore be proceeding to closing. The sale is anticipated to be completed by the end of the year.