Business notes…business notes…Business notes…
Radio Jamaica Limited (RJR) was the best-performing stock for August as it rose by 98 per cent to $4. This was the best single-month performance for any stock year to date. Caribbean Cement Company Limited, Sygnus Credit Investments Limited, 1834 Investments Limited and Eppley Caribbean Property Fund – Value Fund were the other double-digit risers for August. Victoria Mutual Investments Limited, Portland JSX Limited, Key Insurance Limited, Sagicor Select Funds – Manufacturing and Distribution and Salada Foods Limited (SALF) were the worst performers on the Main Market in August.
Future Energy Source Company Limited (FESCO) was the best-performing stock on the Junior Market as its price rose by 71 per cent to $2.48. This left persons who held from the initial public offering in April, up by 200 per cent. Dolphin Cove, Honey Bun (1982) Limited, The Limners and Bards Limited and Fosrich Company Limited were the other major winners for the month.
ISP Financial Services Limited, Jetcon Corporation Limited, Everything Fresh Limited, Lumber Depot Limited (LDL) and iCreate Limited were the other major losers.
RJR, SALF and Ciboney Group Limited remain above 100 per cent year to date while Fosrich, Jamaican Teas Limited, LDL, Caribbean Cement Company Limited and Caribbean Producers Jamaica Limited (CPJ) are the other top-performing stocks on the Jamaica Stock Exchange. Margaritaville Turks Limited, Key Insurance Limited, CAC 2000 Limited, Wigton Windfarm Limited, Pulse Investments Limited and Caribbean Clean Energy Limited are the worst-performing stocks year to date.
EXECUTIVE AND DIRECTOR APPOINTMENTS
Michael Bernard will be retiring from the board of Carreras Limited effective September 20 due to reaching the prescribed age limit. He will also step down as chairman of the audit committee, member of the nomination and compensation committee, and as a trustee of the superannuation scheme. This comes after being appointed in May 2004 during his time as an executive of the company. Paul Hanworth has been appointed as a director, chairman-designate of the audit committee and member of the corporate governance committee while Novar Patrick McDonald has been appointed a director, chairman-designate of the corporate governance committee and member of the audit committee. Hanworth is the deputy CEO of Panjam Investments Limited while McDonald is a partner, and attorney-at-law and partner at Hart Muirhead Fatta. Both appointments take effect on September 20.
CPJ has advised that its former Chief Financial Officer Vivek Gambhir was no longer employed to the company as of August 31. Christopher Myles, the newly confirmed director of finance, will head the Finance Division.
Manager of accounts and finance at Caribbean Assurance Brokers Limited, Donnisha Brooks has resigned from the company as of August 31.
Shashi Mahase has been appointed to the board of Berger Paints Jamaica Limited effective September 2. He currently serves as the general manager.
MARKET SALES AD EVENTS
A connected party of Sagicor Group Jamaica Limited, sold 1,000 shares on August 25.
A connected party of Mayberry Jamaican Equities Limited purchased 93,224 shares between August 31 and September 1.
A connected party of IronRock Insurance Company Limited purchased 89,528 shares between August 31 and September 1.
A connected party of NCB Financial Group Limited purchased, 5,801,420 shares at $131.50 for a consideration of $762.89 million on August 30.
A director of FESCO purchased 2,532,269 shares between August 27 to 30.
65,317,720 shares of 1834 Investments Limited, representing 5.39 per cent of the company’s issued shares, were transferred to a director on July 7. This was pursuant to the probated will of Oliver F Clarke who listed the director as a beneficiary.
The Jamaica Public Service Limited (JPS) declared a dividend of US$0.23945205478 per share on its Class F (9.50 per cent) preference shares to be paid on September 22 to shareholders on record as of September 8. The payment totals US$588,000.25. JPS also declared other dividends for its Class B to E preference shares to be paid on December 31 to owners as of December 15. Class B was $0.035, Class C and D were $0.025, with Class E at $0.03.
Caribbean Flavours and Fragrances Limited has declared a dividend of $0.05 to be paid on September 17 to shareholders on record as of September 10. This payment totals $44.96 million and is twice the $0.025 paid last year.
Scotia Group Limited Jamaica will consider an interim dividend today to be paid to shareholders in October.
Ciboney Group Limited’s 2021 audited financials have been delayed and should be available by September 30.