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Gleaner Shareholders Approve Resolution to Amalgamate Published: 09 January 2016

In a meeting on December 30, 2015 the resolution to amalgamate its media businesses (Gleaner Company and its subsidiaries) with Radio Jamaica Limited was passed by 98% majority in number representing 99.9% in value.

This result was achieved against a requirement of majority in number representing three-fourths (75%) value of the ordinary shareholders having a right to attend and vote, present and voting either in person or by proxy.

 

GraceKennedy Announces Conclusion of the Sales of its Shares in H&L Published: 09 January 2016

GraceKennedy Ltd announced the comletion of the sale of its shares in Hardware & Lumber Ltd ("H&L") to purchaser Argyle Industries Inc. ("Argyle").

Argyle (a St. Lucian Company) is a special purpose vehicle incorporated for the purposes of acquiring and holding the investor's equity interests in Hardware & Lumber Ltd. the investors in Argyle include a group of sophisticated investors led by ABBECO INVEST S.A. (a Bahamian investment company), Sterling Asset Mangaeent Ltd (along with its affiliates and associates) and Greystone Equity Partners Inc. (along with its affiliates and associates).

In keeping with the sale agreement, GraceKennedy has divested its 58.15% interest in H&L to Argyle for a price of $18.50 per share.

 

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.