Dear Editor,

I was surprised to read an article in the media discussing the decision taken by the Jamaica Stock Exchange (JSE) to allow Derrimon Trading Limited to remain on the Junior Market of the stock exchange despite the pending $3.5-billion capital raise.

When the Junior Market of the stock exchange was created in 2009 it was with the intention of encouraging and promoting investment in Jamaica’s entrepreneurship. This was done by giving small- to medium-sized companies financial incentives and a platform to raise the capital necessary to facilitate their continued growth.

This initiative has proven incredibly successful and has given many Jamaican companies the necessary leg-up to grow. However, when companies expand beyond the capital threshold outlined by the Junior Market’s rules, they must be forced to graduate and compete on the big stage of the exchange.

The article explained the very clever arguments made by Derrimon Trading Limited’s legal team about Rule 501, which technically does allow this exception. However, as with many other areas of life, what may technically be the rule may not always be fair.

Therefore, I am openly asking the leadership of the Jamaica Stock Exchange to clarify why some companies are forced to compete with the big boys while others get to continue benefiting from measures set in place to help the small guy.

Another question I would like to ask: Does the listing committee of the Jamaica Stock Exchange override legislation?

Stacy McNeil

stacymcneil2012@gmail.com