General Accident Insurance Company Limited (GENAC) has advised that their Board of Directors will be meeting on July 4, 2017, to consider the payment of dividends to stockholders.
following business was transacted:
That pursuant to Article 48 of the Articles of Association of the Company;
A)"that each of the authorised ordinary shares in the capital of the Company be subdivided into 4 units each for every 1 that currently exists, resulting in the authorised capital being increased to 1,200,000,000 ordinary shares of no par value". This resolution was passed by majority vote, as an ordinary resolution.
B)"that the issued capital be subdivided into 3 shares for every one currently issued, effective for shareholders on record at the close of business on June 26, 2017". This resolution was passed by majority vote, as an ordinary resolution. The ex-date is June 22, 2017.
SGJ has advised that effective June 8, 2017:
(a) Mr. Eric Crawford has been appointed, subject to Bank of Jamaica approvals, as Director to the Boards of SGJ and the Bank of Nova Scotia Jamaica Limited.
(b) Ms. Michelle Wright has been appointed Chief Financial Officer, SGJ.
SGJ further advised that Mr. Ron Bourdeau, VP & Chief Risk Officer who is returning to Canada, and Mrs. Patsy Latchman-Atterbury, VP Retail Banking, will each be leaving SGJ effective June 30, 2017 to pursue other opportunities.
BRG has advised that on June 16 16, 2017, it received a notice that Ansa Coatings International Limited (ACIL), a subsidiary of the ANSA McAL Group (“ANSA McAL”) has entered an agreement with Berger International Private Limited (BIPL), the parent company of Lewis Berger (Overseas Holding) Limited (a company incorporated in UK) (“LBOH”), to purchase 100% of LBOH. LBOH owns 51% of the issued share capital in BRG. The completion of the transaction is subject to completion of conditions as set out in the agreement between BIPL and ACIL.
BRG has further advised that a director sold a total of 170,311 BRG shares during the period June 8 to 15, 2017.
Kingston Wharves Limited (KWL) has advised that the Board of Directors will consider declaring a dividend at a meeting scheduled to be held on June 21, 2017.
Scotia Group Jamaica Limited (SGJ) has advised that their Board of Directors on June 8, 2017, approved an interim dividend of 45 cents ($0.45) per stock unit, which is payable on July 20, 2017, to stockholders on record as at June 28, 2017. The ex-dividend date is June 26, 2017.
The Majority Shareholders of JPS are very pleased to announce the appointment of Mr. Emanuel DaRosa as President and CEO, effective August 1, 2017. Emanuel is extremely pleased to accept this assignment, to build on the excellent work of his predecessor, Ms. Kelly Tomblin and to serve the people of Jamaica. He has successfully led prior organizations to achieve top quartile performance by adopting best in class practices and processes ultimately achieving employee, operational and customer service excellence. For the last six years, Mr. DaRosa has served as the CEO of the Northwest Territories Power Corporation (NTPC) where he led the organization to becoming an industry leader within Canada. NTPC owns and operates 27 isolated grid systems utilizing diesel, hydro, liquified natural gas, wind and solar in one of the world’s harshest climates. Concurrently he sat on the Board of Directors of district heating firm, Aadrii Corporation for 5 years. Emanuel is also experienced in high level government relations and policy development including working as the Deputy Minister in support of Ministers and the Premier of the Northwest Territories. Creating alignment between Government, the Board of Directors and Senior Management has led to effective energy policy, an energy plan, as well as substantial customer programs being successfully implemented through his efforts. His leading edge leadership has led to nominations of several energy committees at the Provincial and Territorial level that are helping shape the utility industry in Canada. Emanuel has 26 years of electrical utility experience working in the areas of distribution, transmission and generation. He has previously held the positions of Vice President of Operations & Engineering, T&D Asset & Investment Manager, Design Supervisor, Distribution Engineer, Plant Engineer and Transmission System Designer with Thunder Bay Hydro, Brookfield Renewable Power and Ontario Hydro. While with Ontario Hydro, he received the President’s award for innovation in diesel generation plant design. With a professional engineering license in Canada and an Executive Masters in Business Administration, along with certifications in Balanced Scorecards, Emanuel describes himself as a lifelong learner. Emanuel was born on the Island of Sao Miguel in the Azores, Portugal and migrated to Canada at the age of three with his working class family. He was the first in his extended family to complete a university education, graduating with Honours. He is quite active playing soccer, baseball, golf, hockey, and enjoys riding his motorcycle as well as snowmobiling which he now hopes to replace with surfing. Sherry, his wife of 21 years, and Deanna, his daughter, will accompany Emanuel to Jamaica while Daniel, his son, will attend the University of Alberta Physiology program working his way to medical school. Mr. and Mrs. DaRosa look forward to living on the Island, getting involved in the community and helping the people of Jamaica.
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.