Supreme Ventures Limited (SVL) has advised that their Board of Directors has appointed Mr. Michael Bernard as the Non-Executive Chairman of Supreme Ventures  Racing & Entertainment Limited, a wholly owned subsidiary of SVL. His appointment became effective on December 8, 2017.

SVL further advises that:

“Mr. Bernard has more than twenty-five years of executive management experience and is a retired Managing Director of Carreras Limited.  He currently serves as Chairman of the Board of Management of Jamaica College and Executive Chairman of Peak Bottling Company Limited, in which he is the majority shareholder.  He also serves on the Board of Directors of Carreras Limited, where he heads its Audit Committee. he is also a director of Grace Kennedy Insurance Company Ltd, Salada Foods Jamaica Limited, Sterling Investment Limited, Hardware and Lumber Limited, New Transport Group Limited and Spike Industries Limited as Chairman.

“The Board welcomes Mr. Bernard to Supreme Ventures family, as we chart a new path to continued growth and profitability in the interest of all shareholders and stakeholders.”

GraceKennedy Limited (GK) has advided that on December 11, 2017, the Privy Council handed down its judgment on the matter of the claim “Paymaster v GraceKennedy Remittance Services Limited & Paul Lowe”, and unanimously allowed GK’s appeal and dismissed Paymaster’s counter appeal.  GK states that on the claim of breach of confidence the Law Lords found that there was no information in the software or manual in question that could have been considered confidential, and with respect to the copyright claim, the Privy Council ruled that Paymaster did not own the copyright in the software.

GK further  advises that  an indication of the Privy Council’s decision will be posted on their website and an update will be included in their 2017 Annual report as a note to the Financial Statements – Contingent Liability.

“GraceKenndy Limited is happy that the Privy Council decidied in our favour on this matter, affirming that GraceKennedy Remittance Services acted honestly and with integrity with respect to its dealing with Paymaster and the engagement of the developer of the software, Mr.Paul Lowe,” GK reports.

Proven Wealth Limited has advised that the Company’s President and CEO, Ms. Chorvelle Johnson, has resigned and will demit office effective January 26, 2018.

The Company further advises that Mr. Christopher Williams, President and CEO of Proven Management Limited, will act in this position, as approved by the Board of Directors, until a replacement President and CEO has been recruited.

Sagicor Bank Jamaica Limited has advised that their Board of Directors, at its meeting held on December 4, 2017,  confirmed the appointment of Ms. Chorvelle Johnson as the Bank’s Chief Executive Officer (CEO), subject to Regulatory Approval.  The appointment becomes effective January 29, 2018.

The Bank further advised that as CEO, Ms. Johnson will be appointed to sit on Board as a non-Executive Director.

“The Board welcomes Ms. Johnson to the position,” states the Bank.

Supreme Ventures Limited (SVL) has advised that Mr. Dennis Chung has been appointed SVL’s Chief Financial Officer, effective February 1, 2018.

Jamaica Producers Group Limited (JP) has advised that its Board of Directors has declared that an interim capital distribution of JA$0.10 per share unit (less transfer tax at the applicable rate) to be paid to all shareholders on record as at the close of business on December 22, 2017. The date of payment is January 18, 2018. The ex-dividend date is December 21, 2017.

LASD has advised that in the matter of Pfizer Limited vs LASD, the formal order was signed by Honourable Mrs. Justice Vivene Harris and filed on November 24, 2017. The amount awarded for damages and interest up to the 3^rd November, 2017 was J$273,278,243.00.

LASD has further advised of its intention to file an appeal and will inform of the progress being made in the matter.

Jamaica Stock Exchange (JSE) has advised that at a meeting of their Board of Directors  to be held on November 15, 2017, the directors will consider the payment of an interim dividend.