Latest News

Carreras Limited Establishes Corporate Governance Committee Published: 03 March 2017

Carreras Limited (CAR) has advised of the establishment of a Corporate Governance Committee of the Board to provide a focussed and structured approach to corporate governance and to align best practices.

The members of the Committee are: Mr. Matthew Hogarth (Chairman), Mr. Eduardo Castañeda, Mrs. Janene Shaw and Mr. Marcus Steele.

KLE Group Limited – Late Submission of Audited Financial Statements Published: 03 March 2017

KLE Group Limited (KLE) has advised that it would not be in a position to submit its Audited Financial Statements on March 1, 2017, as required. KLE explained that the delay in submission is due to the fact that the Company has to carry out a valuation of its shares and this process would not be completed within the required time frame to meet the March 1, 2017 deadline.

The Company stated that it would be publishing an advertisement in a national newspaper advising shareholders of the delay.

The Company advised that it would be submitting the said financials on or before March 30, 2017.

GraceKennedy Limited (GK) Declares Dividend Published: 03 March 2017

GraceKennedy Limited (GK) has advised that the Board of Directors at a meeting held on February 28, 2017, approved an interim dividend payment of  Thirty Cents ($0.30) per stock unit, to be paid on May 18, 2017, to stockholders on record as at May 1, 2017.  The ex-divided date is April 27, 2017.

GK further advised that the Company’s Register of Members will be closed for the period May 1, 2017 to May 5, 2017.

Pulse Investment Ltd Property Leases Have Been Extended To 50 Years Published: 03 March 2017

Pulse Investments Ltd (PULSE) has advised that in a new agreement between PULSE and its related party property owner, leases for the Trafalgar Road and Villa Ronai properties, controlled by PULSE, have been extended to 50 years. Pepercorn rent payable for these 50 years, in accordance with the terms of the leases, has been paid up in advance.

This new extension of the existing leases was approved by PULSE’s Board at a meeting held on December 20, 2016. Under the terms of the extension, if any of the two leases is terminated prior to the end of 50 years, the company and its shareholders will be compensated to the full value of the leasehold improvements and investment made by the company in the properties to date, as well as any new investments made in the future. These investments currently total in excess of $1.3 billion.

Proven Investments Limited: Tranche A Oversubscribed!  Published: 24 January 2017

Proven Investments Ltd (PIL) issued an Invitation for Subscription, subject to a prospectus dated December 8, 2016, where Tranche A saw an offering of 200,000,000 Cumulative Redeemable JMD Preference shares. The offer was closed on December 21, 2016 and was oversubscribed attracting a total of 632 applications for 215,518,040 shares.

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TCL Submitted Circular in Respect of Amended Offer by Sierra Trading Published: 23 January 2017

Trinidad Cement Limited (TCL) has submitted a Supplemental Directors`Circular dated January 19, 2017 in respect of the Amended Offer made by Sierra Trading to purchase up to 132,616,942 ordinary shares so as to result in Sierra Trading holding not more than 74.9% of the issued and outstanding shares of TCL at a cash price of TT $5.07 per ordinary share. The Amended Offer has an option for the shareholders in Trinidad & Tobago and in Jamaica to receive payment in the currency of the USA at the rate of US$0.76 per share unit, and for shareholders in Barbados to be paid in cash in the currency of Barbados in an amount equivalent to TT$5.07 per share.

KPREIT Acquires Two Properties in Jamaica and The Cayman Islands Published: 23 January 2017

Kingston Properties Limited (KPREIT) has advised that a total of USD4.5M was spent on its recent acquisition of two properties in Jamaica and the Cayman Islands, bringing the total number of properties held to thirty. The acquisition was financed using bank debt from institutions in the US, Jamaica and the Cayman Islands in both USD and JMD. KPREIT further advised that rates on the USD facilities ranged between 3.25% p.a. and 4% p.a. while the rate on the JMD facility was 9.85% p.a.

DTL Announced Intention to Make Take-Over Bid to Acquire 50.98% Stake in CFF Published: 23 January 2017

Caribbean Flavours & Fragrances Limited (CFF) has advised that Derrimon Trading Company Limited (DTL) on January 17, 2017 announced their intention to make a take-over bid to acquire 50.98% of the issued shares in CFF (or 45,841,911 ordinary shares in CFF), at a price of J$4.50 per stock unit to stockholders in Jamaica (the Offer). DTL will pay interest to CFF stockholders on shares tendered in response to the Offer at the prevailing weighted average six-month Treasury Bill rate of 5.561% from December 21, 2016 up to but excluding the date of settlement. DTL`s announcement indicates that the Offer is expected to open on January 20, 2017 and is expected to close on February 10, 2017. On receipt of the Offer, CFF`s Board of Directors will review the offer and thereafter issue a Directors` Circular to CFF`s stockholders with a recommendation as to how stockholders should respond.

Derrimon Trading Increases Stake in CFF Published: 23 December 2016

Derrimon Trading Company Limited (DTL) has advised that it has commenced a process to acquire an additional 23,379,208 stock units in Caribbean Flavours and Fragrances Limited (CFF). The sum prepaid is J$105,206,436.00 which on completion, would translate to a price of J$4.50 per stock unit. The prepayment was made pursuant to a Deed dated December 15, 2016. DTL has further advised that is presently in discussions with the FSC as to the implementation of such follow-up actions that may be required by applicable laws or regulations.