Delays in Financials and Reports

Caribbean Cream Limited (Kremi) has become the latest company to issue an advisory to the Jamaica Stock Exchange (JSE) on the delay surrounding its audited financials. The ice cream company was set to make its report within the 60-day window which would be up to April 29. As a result of the delay, Kremi has utilised the JSE’s 45-day extension and expects that its financials will be submitted by June 14. Panjam Investments Limited and the JSE also posted notice of the delay in their annual reports due to the coronavirus pandemic. Using the same extension timeline, both companies noted that the reports should be submitted by June 15.

Dividend Time

As earnings season nears, several companies have given notice to the consideration of dividends in short order. These include NCB Financial Group, tTech Limited, Eppley Limited and Eppley Caribbean Property Fund – Value Fund. More companies will be announcing their dividends in short order which should include Panjam which finally has access to the dividend income from its associate Sagicor Group Jamaica. Kremi delayed its dividend consideration meeting due to the delay in its audited financials. May and June should see more announcements as quarterly results are published.

SFC Delists from TTSE

306,555,644 shares of Sagicor Financial Corporation (SFC) were delisted from the Trinidad and Tobago Stock Exchange (TTSE) as of April 19. The delisting occurs pursuant to an order of the Securities and Exchange Commission from March 26 under the Securities Act. SFC was purchased by Alignvest II Acquisition Corporation (AAC) and delisted from the London and Barbadian Stock Exchanges in late 2019 to early 2020. AAC changed its name at the end of the transaction to Sagicor Financial Company with the new entity listed on the Toronto Stock Exchange. The prior shareholders from SFC got new shares in AAC on a proportional basis.

TTSE Gets New CEO

The TTSE and its wholly owned subsidiary, TT Central Depository Limited, got a new chief executive officer (CEO) in the form of Eva Mitchell. Mitchell’s appointment took effect from April 1 as she replaced the former CEO, Amoy Van Lowe, who resigned at the end of October. The former manager of market operations at the TTSE has 19 years across the financial services sector which includes large multinationals. Her appointment was welcomed bycChairman of the TTSE, Ray A Sumairsingh, who stated that Mitchell’s business acumen and experience make her a fit leader to develop the business.

Executive Shifts

In keeping with the reorganisation of Medical Disposables and Supplies Limited’s executive structure, Nikeisha Boothe’s job title was changed from senior marketing executive to business development and corporate affairs manager. She will also assume the role of company secretary which was performed by company CEO Kurtis Boothe.

Savon Persad, vice-president, Retail & Small Business Banking, Caribbean South and East of Scotiabank Trinidad and Tobago, has been promoted to vice-president, Retail & Small Business Banking for the Bank’s Caribbean, Central America and Uruguay region as of May 3. This is one of the many changes which has occurred in the Caribbean region within the last few months for the Canadian banking giant.