Supreme Ventures Limited, has announced its intention to voluntarily surrender the license to conduct cambio operations, through its subsidiary company, Supreme Ventures Financial Services Limited. The Company intends to cease trading at the end of operations on December 28, 2011.

Supreme Ventures Financial Services Limited (SVFSL) has signed an agreement with Lasco Financial Services Limited, for that company to take over the MoneyGram remittance operations of SVFSL. The transaction has been approved by MoneyGram International. This transaction is subject to the approval of the Bank of Jamaica. The transaction will strengthen the Balance Sheet of Supreme Ventures Limited, reduce operating costs and allow the company to focus on its core business of lottery and gaming. The SVFSL MoneyGram remittance services are offered through 88 locations, including the company`s regional retail centres, sub-agents and select Post Offices islandwide. The consideration for this deal is J$38 million and Lasco Financial expects this transaction to be accretive to earnings.

The Board of Directors of the Jamaica Stock Exchange has approved a quarterly dividend of 6.58% per annum on the Redeemable Variable Rate Preference Shares for the period September 1, 2011 to November 30, 2011 in the amount of $0.0328 per share. The dividend is payable on December 8, 2011 to shareholders on record as at December 5, 2011. The ex-dividend date is December 1, 2011.

The Board of Directors of Barita Investments Limited (BIL) has declared an ordinary dividend of $0.09 per share payable on January 27, 2012 to

shareholders on record as at January 16, 2012. The ex-dividend date is January 12, 2012. BIL has released its audited financial statements for the year

ended September 30, 2011.

Guardian Holdings Limited has advised that AM Best, the world`s largest and most established institution for providing ratings and other financial information for the global insurance industry, has affirmed the financial strength rating of A-(Excellent) Read more ...

Dividend payments of $0.0219 and $0.0248 will be made on Jamaica Money Market Brokers Limited 8.75% Preference shares and 8.50% Preference Shares respectively on August 5, 2011 to shareholders on record as at July 26, 2011. The ex-dividend date is July 22, 2011.

The Board of Directors of National Commercial Bank Jamaica Limited has advised that the Extraordinary General Meeting to seek approval from the Company`s shareholders to remove the cap on the value of the Authorised Share Capital of the Company, will be held at the Wyndham Kingston Hotel on August 12, 2011 at 4:00 p.m.

Caribbean Cement Company Limited (Carib Cement) has cited increasing costs at a greater rate than its sales as the reason for its conservative 5 per cent price adjustment which becomes effective on Monday July, 11. The Company stated that it had been faced with significant increases in costs since it reduced its prices to customers last October. Carib Cement had been negatively affected by a 25 per cent increase in the cost of diesel, a 34 per cent increase in coal, a 40 percent increase in heavy fuel oil, a 4 per cent increase in packaging and a 21 per cent increase in the cost of electricity. Carib Cement informed that the ex-factory price of a bag of Carib Cement Plus will move from the current $525 to $550. The last time that Carib Cement increased its price was in July 2010, when the price per bag was $568.

Pan-Jamaican Investment Trust Limited has advised that at it`s Annual General Meeting held on June 21, 2011, the following resolution was unanimously passed: That the authorized share capital of the company be increased from 200,000,000 to 250,000,000 by the creation of 50,000,000 ordinary shares.      

Mr. Don Wehby, Group CEO Designate for GraceKennedy Limited, announced that Mrs. Fay McIntosh, Chief Financial Officer, would be retiring from the company on December 31, 2011 and that, as part of the succession planning process, Mr. Frank James has been appointed to the position of Deputy Chief Financial Officer as of July 1, 2011. He will be appointed Chief Financial Officer of GraceKennedy Limited effective January 1, 2012. Yesterday Mr. Fran James was incorrectly inserted in the text when it should have read Mr. Frank James.