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Carreras to Host AGM Published: 05 August 2014

The Annual General Meeting of Carreras Limited will be held at the Jamaica Pegasus Hotel, 81 Knutsford Boulevard, Kingston 5 on Wednesday, September 3, 2014 at 2:00 p.m.

JMMB Raises US$20Mn Through Private Placement Published: 05 August 2014

Jamaica Money Market Brokers Limited has advised that it has raised US$20,000,000.00 through the issue and private placement of unsecured extendible notes denominated in United States dollars. The offer was only available to Jamaican residents. The private placement offer closed on July 18, 2014 and will mature on July 18, 2016. Noteholders have an option to either redeem their notes on the Maturity Date or extend the maturity of their notes to July 18, 2019. The interest rate on the original note is 6.75% fixed for two (2) years and 7.75% on the Extended Notes.

Carreras Declares Interim Dividend Published: 05 August 2014

The Board of Directors of Carreras Limited has declared an interim dividend of $1.20 per share payable on September 4, 2014 to shareholders on record as at August 18, 2014. The ex-dividend date is August 14, 2014.

Lasco AGM Published: 05 August 2014

The Annual General Meetings of LASCO Manufacturing Limited, Lasco Financial Services Limited and Lasco Distributors Limited will be held at the Knutsford Court Hotel on September 30, 2014 at 9.00 a.m, 10.30 a.m and 11.30 a.m respectively.


Allan Lewis Elected as JSE Chairman Published: 25 July 2014

Jamaica Stock Exchange Limited (JSE) has advised that Mr. Allan Lewis, Senior Vice President Victoria Mutual Group was elected as the new Chairman of the JSE Board and Mr. Ian McNaughton, Managing Director, Barita Investments Limited was elected Deputy Chairman on July 16, 2014.

TCL Shareholders Elect New Directors Published: 25 July 2014

Trinidad Cement Limited (TCL) has advised that it has received a Requisition to Call a Compulsory Meeting of Shareholders under Section 133 of the Companies Act of Trinidad and Tobago. Shareholders holding in aggregate 54.7% of the issued shares of the company requisitioned the directors of TCL to call forthwith a compulsory meeting of shareholders of TCL for the following purposes: to forthwith and immediately remove the following individuals as directors of the TCL: Mr. Andy Jeevan Bhajan; Dr. Rollin Clifton Betrand; Mr. Bevon Rockville Francis; Mr. Carlos David Hee Houng; Dr. Leonard Alfred Nurse and Mr. Brian William Young. And to thereafter forthwith and immediately elect the following individuals as directors of TCL for a term from the date of their election to the close of the first annual meeting following their election: Wilfred Espinet; Alison Lewis; Chris Dehring; Nigel Edwards; Francisco Aguilera; Carlos Alberto Palero and Glenn Hamel-Smith.

GK Foods USA Acquires La Fe Foods Inc Published: 25 July 2014

On July 18, 2014 GraceKennedy Limited (GK) announced that its wholly owned subsidiary GraceKennedy Foods (USA) LLC has entered into an agreement to purchase the operating assets and business of La Fe Foods Inc., including its brand. GK advised that La Fe Foods Inc. is the top Hispanic Brand in the frozen food category in Northeast USA. La Fe Foods Inc. which was established in 1968 currently has revenues of approximately US$80 million. The acquisition comes at a purchase price of US$26 million. Subsequent to the acquisition of La Fe Foods Inc., GK has advised of the following senior management changes with immediate effect: Mr. Michael Ranglin has been appointed President & CEO of GraceKennedy Foods (USA) LLC, while retaining his substantive positon as the CEO of the GK Foods Division and will be based in New Jersey. Mr. Ryan Mack, who was recently appointed Deputy CEO of GK Foods, will assume oversight for Grace Foods and Services and Manufacturing. Mrs. Andrea Coy, Senior General Manager, Global Category Management, will have oversight responsibility for the Hi-Lo Supermarket chain and World Brands.

JPS to Consider Dividend Payment on Preference Shares Published: 25 July 2014

The Board of Directors of Jamaica Public Service Company Limited will consider the declaration of quarterly dividends for the periods ended March 28 and June 28, 2014 on the Company`s Class F Cumulative Non-Redeemable Preference Shares at a meeting to be held on July 31, 2014. The payment will be made on August 15, 2014 to shareholders on record as at August 4, 2014.

Access Financial Limited Legal Disclosures Published: 25 July 2014

Disclosure in relation to Access Financial Services Limited:

By Claim Form filed in the Commercial Division of the Supreme Court of Jamaica on June 14, 2014, the Company initiated proceedings which claim that moneys spent on renovating the building which houses the Company`s head office was done so to the detriment of the Company.The Defendants to the claim are the Company`s Chief Executive Officer, Mr. Marcus James; Renew Limited, the leaseholder of the premises, (a company of which Mr. Marcus James is the sole shareholder and director); Nenan Limited, the owner of the premises, (a company owned and operated by the parents of Mr. James); and Mr. Neville James (The father of Mr. Marcus James). The proceedings allege that the Company`s Chief Executive Officer, Mr. Marcus James, spent moneys on the renovation of the building which houses the Company`s head office without the authorisation of the board, in breach of his fiduciary duties and his contractual obligations and/or negligently. It is alleged that the Defendants conspired to injure the Claimant in relation to the leasehold improvements. It is further alleged in the proceedings that the Defendants were unjustly enriched by the renovations done to the head office premises. The proceedings indicate that the Claimant is claiming the sum of $33,000,000.00 from the Defendants as well as damages.