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TCL Seeks to Raise US$ & TT$ Debt Published: 07 May 2014

Trinidad Cement Limited (TCL) has advised that it proposes to issue Senior Secured First Lien Notes in an aggregate principal amount not exceeding the equivalent of US$325,000,000 to be issued in a Trinidad and Tobago Dollar denominated tranche to be distributed to potential investors in Trinidad and Tobago on a private placement basis, and in a United States Dollar denominated tranche, which will be distributed in the United States of America and Canada on a private placement basis. Approximately US$295,000,000 from the proceeds of the offering is expected to be utilized by TCL to pay existing debt. The remainder of the proceeds of the offering is intended to be used for working capital improvement and to pay all fees and expenses associated with the Offering. The Notes are expected to have a tenor of 7 years and to mature in 2021, at which time the full principal amount will become repayable. Interest on the Notes is expected to be fixed and paid on a semi-annual basis in arrears, commencing approximately 6 months after the issuance of the Notes.

Seprod Provides Clarity on Recent Resignations Published: 07 May 2014

Seprod Limited has advised that Mr. Geoffrey Messado and Dr. Wayne McLaughlin were on the Audit Committee and their resignations which took effect on March 31, 2014 and April 7, 2014 were not in relation to any disagreement in respect of accounting principles or practices, financial statement disclosure or any other material issue impacting the Audit Committee or the members` ability to properly carry out the functions delegated by the board.

Government Withdraws Withdrawal Levy Published: 05 May 2014

Following widespread public outcry, the government has withdrawn the controversial levy on deposit taking institutions and encashments from securities dealers. This was replaced by two new measures which are expected to raise $2.3Bn.

The first measure is a withholding tax on insurance premiums paid to non- residents by Jamaican residents and the modification of the General Consumption Tax (GCT) Act relating to imported services. There will be a 15% withholding tax on all insurance premiums paid by Jamaican residents to non- residents. Premiums paid to non- residents by registered Jamaican insurance companies will be exempt.

The second measure, the modification to the GCT Act to include imported services, is aimed at leveling the playing field for resident and non-resident service providers. Currently, only local service providers are subject to taxes. The Minister noted that the move is designed to stem future revenue losses from this source, as purchasing services supplied offshore is becoming increasingly common.

The government also withdrew the proposed increase in premium tax for regionalized and non- regionalized life assurance companies and the increase in investment tax (to 20%) for insurance companies. Instead, Asset Tax paid by insurance companies will be increased to 1% (from 0.25%). This will be implemented for one year and is expected to yield $900Mn.

NCB Appoints Brian Boothe as GM Corporate Banking Division Published: 02 May 2014

National Commercial Bank Jamaica Limited has advised of the promotion of Mr. Brian Boothe to the position of General Manager, Corporate Banking Division, effective May 1, 2014. This is consequent to the departure of Mrs. Marjorie Seeberan on December 31, 2013.

JSE to Host AGM Published: 02 May 2014

The Annual General Meeting of the Jamaica Stock Exchange Limited will be held at the offices of the Jamaica Stock Exchange Limited, 40 Harbour Street, Kingston on Thursday, June 19, 2014 at 1:00 p.m.

Dolphin Cove to Host AGM Published: 02 May 2014

The Annual General Meeting of Dolphin Cove Limited will be held at The Courtleigh Hotel & Suites, 85 Knutsford Boulevard, Kingston 5, on Monday, June 23, 2014 at 2:30 p.m.

Resignations at GENAC Published: 02 May 2014

General Accident Insurance Company Jamaica Limited (GENAC) has advised that Mr. Lochinvar Lungren has resigned as Financial Controller of GENAC effective April 30, 2014. GENAC has also advised that Mr. Maxim Rochester has resigned from the Board of Directors of GENAC effective April 30, 2014. The Annual General Meeting of GENAC will be held at 10:00 a.m. on July 8, 2014 at 58 Half Way Tree Road.

JMMB Obtained 100% Ownership of AIC Securities Published: 02 May 2014

Jamaica Money Market Brokers Limited has advised that through its subsidiary JMMB Investments (Trinidad and Tobago) Limited, it has obtained 100% ownership in AIC Securities Limited, having concluded the transaction to acquire the company on April 30, 2014.

KW to Host AGM Published: 02 May 2014

The Annual General Meeting of Kingston Wharves Limited will be held at Jamaica Conference Centre, 14-20 Port Royal Street, Kingston on Wednesday, June 18, 2014 at 10:00 a.m.

H&L to Host AGM Published: 02 May 2014

The Annual General Meeting of Hardware & Lumber Limited will be held on Monday, June 9, 2014 at the registered office, 697 Spanish Town Road, Kingston 11 at 10:30 a.m.