Kingston Properties Limited (KPREIT) has advised that at a meeting scheduled to be held on Tuesday, February 9, 2016 the Board of Directors will consider a dividend payment to its shareholders.

The Board of Directors of Hardware & Lumber Limited (“H&L”) advised that it received on January 29 2016 a takeover bid circular containing an offer from Argyle Industries Inc., (“Argyle”) to all ordinary stockholders of H&L (other than Argyle) to purchase all their H&L stock units at a price of J$18.50 per stock unit (“the Offer”).

The takeover bid circular advised that the price per stock unit in the Offer is the same price per stock unit as that at which Argyle purchased 47,077,304 ordinary stock units in H&L from GraceKennedy Limited (“GK”) on December 30, 2015.

The Offer opens on February 1, 2016 and closes at 4:30 pm on March 4, 2016.

The Offer has been made by Argyle as a result of the mandatory offer requirement of the Jamaica Stock Exchange and the Securities (Take-overs and Mergers) Regulations, which was triggered after Argyle acquired Grace’s 58.23% stockholding in H&L, thereby becoming the majority stockholder of H&L.

At the request of the Board, the Audit Committee of the Board will take lead responsibility in reviewing the Offer. The Audit Committee has agreed that a special subcommittee of the Audit Committee to be comprised of directors unconnected to Argyle or to any other significant shareholder of H&L will be appointed. This sub-committee will have a mandate to propose for adoption a recommendation as to acceptance or rejection of the Offer for inclusion in a directors’ circular to be issued by the Board containing all relevant information required for the benefit of H&L’s stockholders, in compliance with all regulatory requirements.

Caribbean Producers (Jamaica) Limited (CPJ) has advised that at a meeting to be held on Monday, February 8, 2016 the Board of Directors will consider the payment of a dividend.

Jamaica Public Service Company Limited (JPS) has advised that the Board of Directors at its meeting scheduled to be held on February 3, 2016, will be asked to consider declaration of quarterly dividends for the quarter ending December 28, 2015 to shareholders on record as at February 12, 2016 of the Class F Cumulative Non-Redeemable Shares.

Jamaica Public Service has advised that the its Board  of  Directors at its meeting scheduled to be held on February 3, 2016 will be asked to consider declaration of quarterly dividends for the quarter ending December 28, 2015 to shareholders on record at the close of business on February  12, 2016 on the Company’s Class F Cumulative Non-Redeemable Shares.

National Commercial Bank (NCBJ) has advise that the Board of Directors at its meeting on January 28, 2016 declared an interim dividend of $0.50 per ordinary stock unit.  The dividend is payable on February 26, 2016 to stockholders on record as at February 15, 2016.  The X-date is February 11, 2016.

Sagicor Group Jamaica Limited (SJ) has advised that the following breakdown is the company’s holdings of 138SL shares, that the investment is for strategic investment purposes, and that the funds will acquire a minimum of 5 percent in the company.

• Sagicor Pooled Equity Fund – 45, 833, 333 (11.06% holdings)
• Sagicor Life Jamaica Limited – 12,500,000 (3.02% holdings)
• JCSD Trustee Services – Sigma Optima – 28,402,924 (6.85% holdings)
• Sagicor Pooled Mortgage & Real Estate Fund – 16,233, 333 (3.92% holdings)

TOTAL – 102,969,590 (24.84% Holdings)

ISSUED SHARES OF 138SL – 414,500,000

Cargo Handlers Limited (CHL) has advised that the Board of Directors declared an interim dividend of one dollar and thirty cents ($1.30) per share unit, payable on March 11, 2016 to shareholders on record as at February 9, 2016. The ex-dividend date is February 5, 2016.

Caribbean Cement Company Limited (CCC) has advised that further to approvals in principle by its Board on January 19, 2016 and the Parent Board (Trinidad Cement Limited) on January 21, 2016, CCC plans to embark on a project to upgrade its facility to realize an increased capacity and improved efficiency. CCC estimates that there will be a US$30,000,000 investment into the plant over the next 15 to 18 months, which should see the capacity of the Company growing from 1.2 to 1.6 million tonnes per annum. This investment will involve an upgrade of various equipment mainly in the kiln area, a new coal mill and investments to improve the Company’s environmental performance.

Trinidad Cement Limited (“TCL”) wishes to advise of the dissolution of one of its wholly owned subsidiaries - TCL Service Limited - a company incorporated in 1999 under the Nevis Business Corporation Ordinance, 1984. TCL Service Limited was a financial holding company which had been inactive for the past ten (10) years. TCL Service Limited was one of the guarantors under the Credit Agreement between TCL and its Lenders; however, such dissolution is permitted under the said Credit Agreement, provided that assets of the guarantor are distributed to the borrower or another guarantor. By resolution dated November 03, 2015, TCL, as sole shareholder, resolved that the Company be dissolved. The dissolution took effect on December 08, 2015 and upon dissolution, the assets of TCL Service Limited were distributed to TCL. The dissolution of TCL Service Limited will result in cost savings and will serve to simplify the corporate structure of the TCL Group.