Caribbean Cement Company Limited (CCC) has advised that the Company has received notice and now publishes that Mr. Colin Steele, B.B.A., CPA, MBA of 68 Hope Road, Kingston 6, has been nominated for election as a director at the Annual General meeting convened for July 13, 2017.

Productive Business Solutions (PBS), with the help of NCB Capital Markets Limited as lead broker, has its sights set on raising US$41.5M in funding via an IPO that would allow for the deepening of customer engagements, an expansion of its strategic partnerships with multinationals, and an increase in market share, revenue and profits.

The multibillion dollar deal involves US$21.5M in ordinary shares at a price of US$0.55 which translates to some 39,090,909 ordinary shares being issued to the public and reserved applicants. J$2.6B in preference shares will also be available at a price of J$100.00 per share, offering a tax free dividend  of 9.75 per cent per annum. Plans are in place for PBS to apply to the Jamaica Stock Exchange (JSE) for listing of its ordinary shares and its preference shares on the USD and JMD main markets respectively. An application will also be made to the Barbados Stock Exchange (BSE) for the shares to be listed on the International Securities Market but in a supplemental listing.

The company has indicated that it will use some of the funds raised to repay higher cost short-term USD debt that was initially incurred to fund the expansion of the company. This in conjunction with the equity injection from the IPO is expected to strengthen PBS’ balance sheet, therefore, allowing it to take further advantage of organic expansion opportunities.

PBS was incorporated in 2010 as the sole holding company of the Facey Group’s business solutions and technology distribution businesses throughout the Caribbean and Central America. It specialises in the regional distribution of printing, computing, networking, storage, imaging, security and point of sale equipment products. Graphic communication, software integration, outsourcing, as well as document, facilities and other management services are also offered.

Herbert Hall, Assistant Vice President at NCBCM, noted that the NCB Group subsidiary was chosen as a result of its unmatched ability to execute and to underwrite large deals in the capital market space. “NCBCM has shown a capacity to afford its clients the assurance and confidence that is required for execution certainty when seeking large financing. Our unparalleled balance sheet size positions us as the broker of choice for large equity and debt financing deals. That is, in addition to our extensive branch network across the island, which offers the widest distribution reach, resulting in a much larger pool of potential investors,” Mr. Hall said.

PBS, Hall continued, is an attractive offer as the company is strong with not only a diverse customer base of over 12,000 accounts, but also diverse product and service offerings. The company has exclusive distribution rights for Xerox in 14 countries making it the largest distributor of Xerox in the Western Hemisphere. PBS also maintains regional distribution relationships with other premier technology brands such as Cisco, Oracle, HP and NCR. The company’s distribution spans multiple industries, inclusive of banking, insurance, telecommunications, utilities, manufacturing, distribution, mining, graphic communications, business process outsourcing and education.

Revenue for the financial year ending December 2016 stood at US$171.1M and  is  expected to continue to grow on the back of acquiring a license to start distributing Xerox’s products and services in Colombia, which has a GDP of US$292B, approximately the size of all of PBS’s current territories. Additionally, PBS will seek to leverage its unique third line IT supported L3 distribution rights in Central America and the Caribbean and its regional experience gained through previous L3 implementations.

The Jamaica Stock Exchange Limited (JSE) has advised that at a meeting of the Company’s Board of Directors on June 22, 2017, Mr. Ian McNaughton and Mr. Gary Peart were re-elected Chairman and Deputy Chairman, respectively, of the board.

Kingston Wharves Limited (KWL) has advised that their Board of Directors has declared a dividend of J$0.17 per share unit, payable on August 9, 2017, to ordinary shareholders on record as at July 12, 2017.

The ex-dividend date is July 10, 2017.

General Accident Insurance Company Limited (GENAC)  has advised that their Board of Directors will be meeting on July 4, 2017, to consider the payment of dividends to stockholders.

following business was transacted:

That pursuant to Article 48 of the Articles of Association of the Company;

A)"that each of the authorised ordinary shares in the capital of the Company be subdivided into 4 units each for every 1 that currently exists, resulting in the authorised capital being increased to 1,200,000,000 ordinary shares of no par value". This resolution was passed by majority vote, as an ordinary resolution.

B)"that the issued capital be subdivided into 3 shares for every one currently issued, effective for shareholders on record at the close of business on June 26, 2017". This resolution was passed by majority vote, as an ordinary resolution. The ex-date is June 22, 2017.

BRG has advised that on June 16 16, 2017, it received a notice that Ansa Coatings International Limited (ACIL), a subsidiary of the ANSA McAL Group (“ANSA McAL”) has entered an agreement with Berger International Private Limited (BIPL), the parent company of Lewis Berger (Overseas Holding) Limited (a company incorporated in UK) (“LBOH”), to purchase 100% of LBOH. LBOH owns 51% of the issued share capital in BRG. The completion of the transaction is subject to completion of conditions as set out in the agreement between BIPL and ACIL.

BRG has further advised that a director sold a total of 170,311 BRG shares during the period June 8 to 15, 2017.

Kingston Wharves Limited (KWL) has advised that the Board of Directors will consider declaring a dividend at a meeting scheduled to be held on June 21, 2017.

Scotia Group Jamaica Limited (SGJ) has advised  that their Board of Directors on June 8, 2017, approved an interim dividend of 45 cents ($0.45) per stock unit, which is payable on July 20, 2017, to stockholders on record as at June 28, 2017.  The ex-dividend date is June 26, 2017.