LASCO MANUFACTURING

MARKET DELAYS

DUE to the continued impact of the pandemic on the audit process, Jamaica Broilers Group has requested an extension from the Jamaica Stock Exchange (JSE) to file its 2021 audited financial statements by July 15. Radio Jamaica Limited has requested an extension to file its audited financials by July 14, which is in line with the 45-day extension offered by the JSE. Caribbean Cream Limited has requested an extension to file its 2021 annual report by August 12. Derrimon Trading Company Limited and Caribbean Flavours and Fragrances Limited have requested an extension to September 30 for the filing of their 2020 annual reports.

MARKET PERFORMANCE IN 2021

Palace Amusement Company Limited was the biggest winner for the month of June as its stock price rose by 59 per cent to $1,463.79. Jetcon Corporation Limited, Portland JSX Limited, Tropical Battery Limited, Gwest Corporation Limited, Future Energy Source Company Limited (FESCO) and Eppley Limited were the other large stocks performing above 25 per cent for June. However, Salada Foods Limited has been the best-performing stock for 2021 as its price rose by 154 per cent to $7.77 ($77.70 presplit). Lumber Depot Limited, Jamaica Teas Limited (JAMT) and Fosrich Company Limited have all delivered more than 100 per cent year to date. Other notable movers include Express Catering Limited, Main Event Entertainment Group Limited (MEEG), Stationery and Office Supplies Limited, Caribbean Producers Jamaica Limited (CPJ), Gracekennedy Limited and Caribbean Cement Company Limited, which are all up by more than 50 per cent year to date.

DIVIDEND ANNOUNCEMENTS, BUY-BACKS

Kingston Properties Limited has declared a dividend of US $0.000664 per share or US $449,967.83 to be paid on August 23 for shareholders on record as of July 23. The Jamaica Public Service (JPS) has declared a dividend of US$0.47109589038 per share for its Class F preference shareholders, to be paid on July 28 for those on record as of July 14. JPS declared dividends for its Class B – E preference shareholders in the first and second quarter ranging from $0.025 to $0.035 per share. Eppley Caribbean Property Fund – Value Fund (CPFV) bought back 31,796 shares between June 23 and 25, which was its only share buy-back conducted during the quarter. CPFV bought back 78,407 shares in the first quarter (January – March).

MARKET SALES AND EVENTS

Connected parties of Elite Diagnostic Limited sold 167,597 shares on June 21 and

30. FESCO directors purchased 3,184,418 shares between May 25 and July 2. Connected parties of Mayberry Jamaican Equities Limited (MJE) bought 132,148 shares on June 29 and

30. JAMT directors and connected parties sold 851,776 shares between June 28 and July 1. A connected party of Ironrock Insurance Company Limited sold 27,467 shares on June 30. A senior manager of Lasco Manufacturing Limited sold 197,900 shares between June 25 and June 29. Sagicor Group Jamaica Limited (SJ) transferred 17,000 shares to eligible employees under its employee share purchase plan on June 30. Connected parties of SJ sold 103,800 shares on July 1 as well. A connected party of CPJ sold 470,707 shares on June 29. Two connected parties of Mayberry Investments Limited purchased 1,214,728 shares while another connected party sold 467,660 shares on June 28.

QWI Investments Limited’s Net Asset Value (NAV) closed out the quarter at $1.35 or 11.57 per cent above the $1.21 at the end of March. This is the closest quarter it’s been to its $1.36 high set at the end of its September 2019 initial public offering. MJE saw its NAV rise from $9.75 at the start of the quarter to close the period at $12.34. This is a distant move from its all-time low of $6.63 set in March 2020. Sagicor Select Funds Limited — Financial (Selectf) saw a marginal bump in its NAV in the quarter from $0.844 to $0.859. It started out 2021 with an NAV of $0.854. Sagicor Select Funds – Manufacturing and Distribution (Selectmd) saw its NAV run from $0.986 to $1.107 during the quarter. It started 2021 with a NAV of $0.856.

Icreate Limited has become one of the most recent firms to request permission from the commercial division of the Supreme Court to hold its annual general meeting (AGM) in a virtual format. The company will attend its first hearing on July 12. MEEG has set July 27 as its AGM date, with the new location set to M1 studios on Altamont Crescent. The AGM will be streamed live via the company’s website.

Kingston Properties Limited (KPREIT) has renamed its St Lucian subsidiary as Kingston Properties (St Lucia) Limited from the Carlton Savannah REIT (St Lucia) Limited, effective May 31. The Carlton Savannah REIT was the prior name of KPREIT before its official change in October 2009.

Adrian Lee-chin has resigned from the boards of NCB Financial Group Limited (NCBFG) and National Commercial Bank Jamaica Limited (NCBJ) effective July 1. This comes less than 3 days after a release was sent to the JSE for Lee-chin to take an indefinite leave of absence. Lee-chin was appointed to the boards of NCBFG and NCBJ on July 29, 2020, and was elected by the shareholders to the board of NCBFG at its February 2021 AGM.