Business notesWednesday, September 15, 2021
BY DAVID ROSE
NCBCM LEADS PRIVATE MARKET OFFERINGS
NCB Capital Markets Limited (NCBCM) has arranged and listed the Jamaica Broilers bond offering on the Jamaica Stock Exchange's Private Market. The bond was listed on June 9 at a price of $100. The $1.5-billion bond is a senior unsecured security with a coupon rate of 6.75 per cent and matures in 7 years (2028). This is the fourth private debt listed by the securities dealer, with Barita Investments Limited leading the Pulse Investments Limited listing.
EXECUTIVE AND DIRECTOR APPOINTMENTS
Gregory Seymour has resigned as finance manager of Main Event Entertainment Group Limited effective September 7.
Jeffrey Moss-Solomon has resigned as the general manager of Jamaica Grain and Cereals Limited (JGCL) effective August 31. JGCL is a joint venture of Seprod Limited.
Vishwanauth Tolan has been appointed as the commercial and operations manager of Blue Power Group Limited.
MARKET SALES AND EVENTS
A connected party of Sagicor Group Jamaica Limited sold 52,708 shares to another connected party which purchased the same amount on September 3.
A director of Future Energy Source Company Limited sold 2.6 million shares between September 2 to 6.
A director of Jetcon Corporation Limited sold 288,388 shares between August 31 and September 2.
A connected party of IronRock Insurance Company Limited purchased 43,700 shares of the company on September 2.
A connected party of AMG Packaging and Paper Company Limited purchased 1,353,261 shares at $1.59 for a consideration of $2.15 million on September 1.
A connected party of Supreme Ventures Limited purchased 14,405 shares on August 30.
A director of Salada Foods Limited purchased 82,758 shares of the company on September 1.
A connected party of Eppley Caribbean Property Fund – Value Fund purchased 128,896 shares of the company on August 31.
The Panjam/First Life Employees Investment Trust purchased 2,798 shares of Panjam Investments Limited at $63 for a consideration of $176,274 on September 3.
The Caribbean Information and Credit Rating Services Limited (CariCRIS) has reaffirmed the good creditworthiness of JMMB International Limited, NCB Merchant Bank (T&T) Limited, but lowered the credit rating of the Development Bank of Jamaica Limited.
Radio Jamaica Limited has declared a dividend of $0.02 to be paid on October 15 to shareholders on record as of September 21. This payment totals $48.45 million.
Scotia Group Limited has declared a dividend of $0.35 to be paid on October 20 to owners on record as of September 28, 2021. This payment totals $1.09 billion.
Sygnus Credit Investments Limited has declared a dividend of US $0.00262 per share to be paid on October 15 to shareholders on record as of September 30. This payment will total US$1.55 million, with JMD share owners' dividend rate being set based on the Bank of Jamaica's weighted average spot selling exchange rate five days immediately preceding the payment of the dividend. Sygnus Real Estate Finance Limited's initial public offering officially closed on September 10.
Kingston Properties Limited (KPREIT) has entered into an agreement to acquire three of four pre-construction units in a mixed-use industrial development in the Cayman Islands called Gum Tree 5. KPREIT should pay a consideration cost of US$3.13 million ($470 million) for the development set to be complete by October 2022.
As the Unilever Group looks to complete the spin-off of its tea business, the Unilever Caribbean Limited board has approved the transfer and sale of the company's local (Trinidad and Tobago) tea business. Following regulatory approval, the new business will be held by a newly incorporated tea holding company as of October 1. Some of the brands affected by this spin-off include Lipton and Red Rose.
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