Business notes..business notes...business notes
EXECUTIVE AND DIRECTOR APPOINTMENTS
Clement Wain Iton has resigned as chairman of Sygnus Real Estate Finance Limited (SRF) effective September 30. Iton will also resign as chairman of Sygnus Credit Investments Limited (SCI) effective October 31. Horace Messado became the new chairman for SRF on October 1 while Linval Freeman will become the new chairman of SCI on November 1.
Yong Hyun Kim has been appointed as the chairman of The Jamaica Public Service Limited effective October 1. He succeeds Bok Hoa Jeong who was the chairman from April 2020 - September 2021.
Geoffrey Messado’s role of executive director has been removed from Ciboney Group Limited’s structure. He has joined the audit committee which also comprises Tricia Grant Mitchell and Michael Campbell. Errol Campbell remains chairman of Ciboney but will no longer serve on the audit committee.
MARKET SALES AND EVENTS
A connected party of Jetcon Corporation Limited purchased 1,131,037 shares on September 23.
A director of Panjam Investments Limited (PJAM) exercised his stock option plan and purchased 711 shares on September 24.
A connected party of PJAM purchased 4,200 shares on September 28 and sold 930,000 shares on September 27.
A connected party of Mayberry Investments Limited purchased 273,455 shares on September 27 – 29.
A connected party of Mayberry Jamaican Equities Limited (MJE) purchased 687,896 shares between September 21 – 24.
A connected party of Ironrock Insurance Company Limited purchased 343,345 shares between September 21 - 27. 222,000 shares of Wisynco Group Limited were purchased by eligible employees under the company’s longterm incentive plan. Two officers of Kingston Wharves Limited were allotted a combined total of 100,000 shares under the employee share ownership plan.
A connected party of Supreme Ventures Limited sold 65,980 shares on September 21.
The SJL Employee Share Purchase Plan sold 1,500 shares of Sagicor Group Jamaica Limited sold 1,500 shares on September 24.
A senior manager of Mailpac Group Limited sold 100,000 shares on September 27.
A director of Future Energy Source Company Limited purchased 249,000 shares on September 23 – 27.
A connected party of NCB Financial Group Limited purchased 2,500,000 shares on September 28 at a price of $127.60 for a consideration of $319 million.
Barita Investments Limited has established an employee stock ownership plan through an employee share trust. Under the terms of the plan, eligible employees will be given the opportunity to purchase Barita shares at a discount from time to time in accordance with the rules of the plan (the “Plan Rules”) and the Trust Deed. Accordingly, pursuant to the resolution approving the plan, commencing September 28, 2021, the trust will be purchasing Barita shares to be held in the trust in accordance with the Trust Deed and the Plan Rules.
First Citizens Bank Limited’s (FCB) restructuring has been delayed due to the Trinidadian bank not receiving all the necessary regulatory approvals. As a result, the effective date will no longer be October 1 for persons to receive First Citizens Group Financial Holdings Limited shares which were to be listed after FCB’S delisting. The new effective date will be made known in a supplemental notice.
Jamaica Broilers Group Limited will be considering a dividend payment at its board meeting on October 27.
The Caribbean Information and Credit Rating Services Limited (CARICRIS) has reaffirmed Guardian Holdings Limited’s $13.4-billion bond as high, which corresponds to Cariaa. CARICRIS has also assigned an initial corporate credit rating of JMBBB to Sygnus Credit Investments Limited (SCI) for local and foreign currency. This on the national scale with respect to other obligors in Jamaica falls under adequate, with SCI being given a stable outlook. The Government of Anguilla was reaffirmed as adequate which corresponds to CARIBBB.
Ciboney’s registered office has been moved to 30 National Heroes’ Circle from 7 Pechon Street, where the operations of the company will be managed.
MJE net asset value (NAV) decreased from $12.42 to for the quarter. QWI Investments Limited’s NAV remained flat for the quarter at $1.33. Eppley Caribbean Property Fund – Value Fund’s NAV remained flat at BBD $0.70.