Business notesWednesday, September 22, 2021
BY DAVID ROSE
Aaron Niemeyer has been appointed chief auditor of Scotiabank Trinidad and Tobago effective September 13. He replaces Tricia De La Rosa who has been appointed vice-president AML/ATF & compliance, English Caribbean region, as of the same date.
Dianna Blake-Bennett has resigned as Salada Food Limited's general manager effective October 31. Blake-Bennett joined Salada in February 2016 as its commercial and corporate affairs manager. She told the Jamaica Observer that she is not yet at liberty to disclose her company of future employment.
Blake Bennett was the first female general manager for Salada Foods Jamaica Limited, one of the oldest manufacturing companies in Jamaica. She was appointed to the role on January 4, 2017 after acting as General Manager from September 2016.
As general manager of Salada, Blake-Bennett spent the last two years embroiled in a tug of war with the Jamaica Agricultural Commodities Regulatory Authority (JACRA) which brought in new regulations for instant coffee formulation. These regulations led to an increase in product costs and impacted company sales. During 2020, Salada took JACRA to court over the matter.
On Friday November 13, 2020, the Court denied Salada's application, ruling that JACRA had the power under the Jamaica Agricultural Commodities Regulatory Authority Act to make regulations including regulation 19 and that instant coffee manufactured by the Salada was the subject of Regulation 19.
The role of chief executive officer (CEO) of Supreme Ventures Fintech Limited (SVFL) has been made redundant effective September 17. As a result, Xesus Johnston will assume responsibility of the Supreme Ventures Limited subsidiary. Johnston is a board member of SVFL and chief executive officer CEO of Prime Sports (Jamaica) Limited.
MARKET SALES AND EVENTS
A senior manager of Mailpac Group Limited sold 73,000 shares on August 31.
A senior manager of Lasco Manufacturing Limited sold 18,271 shares on September 13.
A senior officer of GraceKennedy Limited acquired 59,682 shares on September 8.
A cross trade of 100,000 shares occurred between two connected parties of Sygnus Credit Investments Limited on September 8.
A connected party of NCB Financial Group Limited purchased 4,453,450 shares at $128.50 each for a consideration of $572.27 million on September 13.
A director of Jamaican Teas Limited purchased 485,371 shares of the company between August 30 to September 2.
A senior manager of Jamaica Broilers Group Limited purchased 25,000 shares of the company for $36 each on July 19.
A senior manager of Supreme Ventures Limited purchased 4,866 shares on September 6.
A senior officer of Jamaica Producers Group Limited purchased 200,850 shares on September 7.
A director of Jetcon Corporation Limited sold 7,575 shares between September 6-13.
A connected party of Sagicor Group Jamaica Limited sold 56,100 shares on September 13.
A connected party of Mayberry Jamaican Equities Limited purchased 360,566 shares between September 3-10.
A connected party of IronRock Insurance Company Limited sold 129,734 shares between September 3-10.
A connected party of Panjam Investments Limited purchased 1,000 shares on September 15.
ISP Financial Services Limited has entered into a loan purchase agreement that gives it the right to purchase select existing loans from a medium-size portfolio. The company expects the transaction to be completed before the end of the month, with the size of the acquisition determined by the closing conditions.
All applicants of the Sygnus Real Estate Finance Limited initial public offering will receive their full allotments. Refunds should be processed by September 24.
Key Insurance Limited has announced October 6 as the new date for its annual general meeting following its adjournment on September 8.
Knutsford Express Limited has advised that its annual report has been delayed and should be filed on or before November 12.
CAC 2000 Limited has also advised that its third-quarter financials have been delayed due to the pandemic and implementation of a new enterprise resource planning (ERP) system. It's anticipated the financials will be filed by October 25, which is 6 days before the end of its financial year.