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.
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.
The Board of Directors of Jamaica Broilers Group Limited has declared an interim dividend of $0.09 per share payable on May 1, 2015 to shareholders on record as at April 14, 2015. The ex-dividend date is April 10, 2015.
National Commercial Bank Jamaica Limited (NCBJ) has advised that it is planning a securitization transaction under which notes will be issued to selected debt investors, backed by future flows relating to international merchant voucher receivables acquired by NCBJ in Jamaica. The terms and timing of the transaction have not yet been finalized.
The Board of Directors of General Accident Insurance Company Limited has declared a dividend of $0.097 per share payable on April 27, 2015 to shareholders on record as at April 13, 2015. The ex-dividend date is April 9, 2015.
Trinidad Cement Limited (TCL) has advised that at the special meeting held on February 9, 2015, Shareholders were advised that TCL had reached an agreement in principle with its Lenders with respect to the restructuring of the debt. TCL is pleased to advise that on March 17, 2015, the Board of Directors of TCL considered the various draft restructuring agreements and passed resolutions approving (inter alia) the terms and conditions outlined therein. The said restructuring agreements were signed by TCL on March 24, 2015, and all related documents are expected to be fully executed by, and be effective March 31, 2015.
Salada Foods Jamaica Limited (SALF) has advised that Mr. John Bell has resigned as Director, Chairman of the Board of SALF and Chairman of the Corporate Governance Committee of SALF effective March 5, 2015. Mr. Patrick Williams was appointed Chairman of the Board of Directors of SALF effective March 5, 2015 and Miss Kathryn Lewis replaced Mr. John Bell as Chairperson of the Corporate Governance Committee of SALF on March 19, 2015. SALF has also advised that Mr. Jeffrey Cobham resigned as a Director and Chairman of the Audit Committee of SALF effective March 5, 2015. SALF advised that the Mr. Cobham`s resignation from the Audit Committee is not due to any disagreement in respect of accounting principles or practices, financial statement or any other material issue impacting the Audit Committee or his inability to properly carry out the functions delegated by the board. Mr. Aubyn Hill replaced Mr. Cobham as Chairman of the Audit Committee of SALF at a meeting held on March 19, 2015.
Scotiabank Caribbean Holdings Ltd. (SCHL) and The Bank of Nova Scotia (BNS) jointly announce that BNS will transfer all of its 71.78% shareholding in Scotia Group Jamaica Limited (SGJL) to SCHL, its 100% owned regional financing and holding subsidiary in Barbados. The transfer of shares will take place on the Jamaica Stock Exchange by way of an approved "block transfer" of shares, after all requisite local regulatory approvals are obtained by the parties. SCHL has no intention of acquiring any additional shares in SGJL in the foreseeable future.
The transfer of shares will occur as part of a larger regional reorganization of certain BNS subsidiaries in the Caribbean which began in 2011. After the transfer, the Scotiabank group of companies (Scotiabank) will be on similar footing with many of its competitors in terms of its organizational structure in the Caribbean.
Carried out in consultation with its team in Jamaica, the reorganization is aimed at strengthening the management of Scotiabank’s regional operations in the Caribbean, and enhancing operational efficiency and corporate governance. There will be no material impact on SGJL’s current operations as a result of the transfer and Scotiabank remains firmly committed to serving its customers in Jamaica and throughout the Caribbean. In light of the transaction being purely an internal reorganization with no change in the ultimate beneficial ownership of the 71.78% SGJL shareholding, on March 17, 2015 the Financial Services Commission (FSC) granted an exemption to SCHL from the provisions of Regulation 26(1) of The Securities (Takeovers & Mergers) Regulations, on condition that in advance of the transfer, this Press Release (approved by the FSC) is issued to the public. Accordingly, there will be no effect on minority shareholders as a result of the transfer of SGJL shares to SCHL and no offer is therefore required to be made to these shareholders by SCHL.
General Accident Co. Jamaica Ltd (GENAC) has advised that the Board of Directors will be meeting on March 26, 2015 to consider the payment of a dividend to stockholders.
The Board of Directors of Sterling Investments Limited declared a dividend of $1.82 per share payable on March 20, 2015 to shareholders on record as at March 6, 2015, based on the number of shares in issue prior to the stock split. The company will pay this dividend in United States Dollars. The Bank of Jamaica`s weighted average sell rate as at March 6, 2015 (J$115.55) will be used to calculate the USD equivalent payable to shareholders. The dividend per share in USD terms is US$0.01575.
Kingston Properties Ltd has advised that the Board of Directors at its round robin on March 12, 2015 declared a dividend of US$0.0029 per stock unit payable on April 8, 2015 to stockholders on record as at March 26, 2015. The Ex date is March 24, 2015.