Derrimon Trading Company Limited Issues new secured note

Derrimon Trading Company Limited Issues new secured note Kingston – Derrimon Trading Limited, in an effort to refinance its current US dollar debt, recently closed a bond issue valued at J$250 million. The secured note, which was structured and brokered by Mayberry Investments Limited, was privately issued under exempt distribution guidelines. It is tenured at 24 months and offers a coupon of 10.25 per cent per annum. Derrimon Trading Limited has experienced robust growth since listing on the Junior Market of the Jamaica Stock Exchange (JSE) in 2013. Since its listing, the company has acquired a 75.02 per cent ownership stake in fellow Junior Market listed company, Caribbean Flavours and Fragrances Limited, expanded its retail footprints under the Sampars brand to 7 locations islandwide and launched a second grocery chain under the Select Grocers which was open in March 2017. The company’s growth has been reflected in its stock price, which has quadrupled since its opening price of $2.05 per share. Speaking on the new issue, Chairman and CEO Derrick Cotterell, spoke about the company’s continuing efforts to maximise its potential. “We continue to seek opportunities to grow our operations and with our financial partners, Mayberry Investments, we are working to find the best financial solutions in the short, medium and long term. Our goal was always, and will continue to be strengthening our company and creating the best value for all our stakeholders”. Mayberry Investments’ CEO, Gary Peart lauded the leadership at Derrimon Trading, highlighting the strides they have made in the last 3 years. “The tremendous growth that the team at Derrimon is experiencing is an example of the objective we have for all the companies we list. Derrimon has been taking full advantage of the benefits received from listing on the Junior Market and they have created opportunities to add value for its shareholders. We look forward to continuing to work with them and to guiding them to achieving maximum growth”. Derrimon Trading are operators of the Sampars outlets, which offers customers the ability to place orders online. The Company has in its distribution portfolio lines such as, Nestle, Supligen, Golden Brand and Sun Detergent out of Suriname, Linstead Market, Blue Power Home Choice and its in-house Delect Brand. Derrimon Trading Company Limited Derrimon Trading Company Limited is a public company incorporated under the laws of Jamaica with its registered office located at 233 - 235 Marcus Garvey Drive, Kingston 11. Derrimon’s ordinary stock units are listed on the Junior Market of the Jamaica Stock Exchange and trade under the ticker: DTL. Derrimon is a distributor of dry and frozen bulk commodities. It also operates a retail division through its seven (7) Sampars Cash ‘N’ Carry locations. Derrimon also sells its own brand of products under the brand name Delect. Further information on Derrimon Trading Company Limited can be found on its website at www.derrimon.com.