Online Banking

Latest News

Dolphin Cove Declared Dividend Published: 14 April 2015

Dolphin Cove Ltd (DCOVE) has declared an interim dividend of $0.15 per share payable on Monday May 11, 2015 to shareholders on record at Friday April 24, 2015. The ex-dividend date is Wednesday April 22, 2015.

Sierra Trading Increases Shareholding in TCL to 39.5% Following Rights Issue Offer Published: 14 April 2015

The Directors of Trinidad Cement Limited (TCL) have fixed Friday, April 17, 2015 as the record date for shareholders entitled to receive the Annual Report for TCL for the year ended December 31, 2014. TCL has advised that on March 31, 2015 at 4:00 p.m. it closed its offer for the pro-rata Rights Issue of 124,882,568 new shares, which was opened exclusively on the Trinidad and Tobago Stock Exchange. Shareholders are hereby advised of the following results for the Rights Issue: i. 118 shareholders accepted the provisional allotment in whole; ii. 9 shareholders accepted the provisional allotment in part; and iii. 6,354 shareholders allowed entitlement to the allotment to lapse. The number of shares subscribed by eligible shareholders during the period for exercising the pre-emptive rights in the Rights Issue was 51,817,920. Pursuant to the Subscription Agreement dated February 9, 2015 between Sierra Trading and TCL, the main terms of which were published from February 10, 2015, Sierra Trading, as the backstop shareholder, purchased 73,064,648 excess shares in the Rights Issue, representing the remaining shares that had not been subscribed and fully paid up by eligible shareholders upon the expiry of the period for exercising pre-emptive rights. Accordingly, the Rights Issue was fully subscribed.

The participation of Sierra Trading in the Rights Issue, through the exercise of its pre-emptive rights, as well as the purchase of the said excess shares under the Subscription Agreement, will result in Sierra Trading increasing its shareholdings in TCL from 20% to 39.5%. The total amount subscribed by Sierra Trading in the Rights Issue was US$44,852,400.98 worth of new shares. The total amount of capital raised in the Rights Issue was US$57,131,952.55. A condition precedent to the effectiveness of the terms and conditions of the Debt Restructuring agreements between TCL and its Creditors was for TCL to raise equity capital of at least US$50 million. Accordingly, this condition precedent has been met.

PROVEN Upsizes Rights Offer Published: 14 April 2015

Proven Investments Limited (PROVEN) has advised that the Lead Brokers to the Offer have received applications in excess of the allotted US$19.66Mn for the Renounceable Rights Issue of 1 new ordinary share for every block of 3 ordinary shares held in Proven Investments Limited, as offered in the Prospectus dated March 12, 2015. The Board of Directors of Proven have therefore approved the upsizing of the shares made available for subscription, via the Conditional Offer described in the said Prospectus, and the extension of the closing date to April 17, 2015 to allow shareholders the ability to apply for additional shares over their original allotment, as contemplated by the Conditional Offer.

Jamaica Public Service Co. Ltd - JPS Preference Dividend Payment Published: 14 April 2015

The Board of Directors of Jamaica Public Service Company Limited has declared quarterly preference share dividends payable July 1, 2015 to shareholders on record as at June 15, 2015 as follows:

  • 7% Cumulative Preference Shares "B" - $0.035
  • 5% Cumulative Preference Shares "C" - $0.025
  • 5% Cumulative Preference Shares "D" - $0.025
  • 6% Cumulative Preference Shares "E"  - $0.030

The ex-dividend date June 11, 2015.

Sterling Extends Rights Issue Published: 14 April 2015

Sterling Investments Limited has advised that due to delays associated with the Easter Holidays and the U.S. President`s trip to Jamaica, it has extended the closing date of its Rights Issue to April 22, 2015.

138 Student Living Signs New Concession Agreement with UWI Published: 14 April 2015

138 Student Living Jamaica Limited signed a new Concession Agreement with the University of the West Indies Mona Campus on Friday April 10, 2015 which will see the renovation and expansion of the Gerald Lalor Flats and Irvine Hall. The Gerald Lalor Flats which were built approximately 20 years ago will be renovated and expanded and brought into operations later this year. Irvine Hall which is approximately 50 years old will be demolished, reconstructed and expanded. Both projects will result in improved accommodation and additional facilities for students on the Mona Campus. The construction value of the Concession Agreement is estimated to be $2.2 billion, which will be spent over the next 2 years, is expected to bring a further 100 jobs to the number already created for phases 1 and 2 of the initial Concession Agreement.

Dcove Declared Dividend Published: 08 April 2015

The Board of Directors of Dolphin Cove Limited has declared an interim dividend of $0.15 per share payable on May 11, 2015 to shareholders on record as at April 24, 2015. The ex-dividend date is April 22, 2015.

JMMB Limited to Delist and JMMB Group to be Listed Published: 07 April 2015

Jamaica Money Market Brokers Limited (JMMB) has advised that it has received the required approvals from the three stock exchanges on which JMMB`s ordinary shares are currently listed (i.e., the Jamaica Stock Exchange, the Barbados Stock Exchange and the Trinidad and Tobago Stock Exchange) for the implementation of the Scheme of Arrangement approved by the shareholders on September 17, 2014, and sanctioned by the Supreme Court of Judicature of Jamaica on November 5, 2014. The dates for the various activities are as follows: Notice of the closing of register: March 24, 2015; Suspension of trading: April 2, 2015; Register closes: April 9, 2015 and delisting of Jamaica Money Market Brokers Limited and listing of JMMB Group Limited: April 13, 2015.

Update on Cross-Posting Exercise at TCL Published: 07 April 2015

Trinidad Cement Limited has advised that following its previous announcement in January 2014 of a cross-posting exercise involving the General Managers of TCL Packaging Limited (TPL) in Trinidad and Arawak Cement Limited (ACCL) in Barbados, with effect from March 1, 2015 these Executives will revert to their substantive positions and accordingly, the portfolios of General Manager at ACCL and TPL would be held by Mr. Rupert Greene and Mr. Derrick Isaac respectively.

DCove Dividend Consideration and Resignation Published: 31 March 2015

The Board of Directors of Dolphin Cove Limited (DCOVE) will consider a dividend payment at a meeting to be held on April 7, 2015. DCOVE has advised that Mr. Dean Burrowes resigned as a director effective November 24, 2014.