Executive & Director Changes

Aileen Corrigan, Vernon Douglas and Dr William Warren Smith were appointed to the boards of the Bank of Nova Scotia Jamaica Limited and Scotia Group Jamaica Limited effective December 14.

Gary-Vaughn White has been appointed to the role vice-president of collateral protection for Caribbean Central America and Uruguay (CCAU) for the Bank of Nova Scotia effective January 2. Adrian Reynolds has also been appointed to the role vice-president for treasury which took effect on November 1.

Nigel Edwards has been appointed as an independent director to the board of Massy Holdings Limited effective December 8.

Kimloy Walker has joined Caribbean Assurance Brokers Limited as its compliance manager effective December 1.

Market Sales & Events

A director of Jetcon Corporation Limited sold 10 shares on November 24. A connected party of Mayberry Investments Limited purchased 35,042 shares on December 7. An executive of Sagicor Group Jamaica Limited sold 14,000 shares on December 8. A connected party of Massy Holdings Limited purchased 112,605 shares and 1,427,182 shares on December 13 and 14, 2022, respectively, at TT$4.40 on the Trinidad and Tobago Stock Exchange. A connected party of PanJam Investment Limited purchased 3,350 shares on December 14 while another connected party sold 55,955 shares to four directors who were issued 55,955 shares in lieu of directors fees for the fourth quarter of 2022. A related entity of Supreme Ventures Limited purchased 500,000 shares for a total of $14.75 million between December 9 to 15. A connected party of Kingston Wharves Limited sold 84,002 shares between December 5 to 8 while another connected party sold 169,072 shares for a consideration of $5.33 million between December 12 to 14. A senior manager of Barita Investments Limited acquired 159,072 shares on December 15 under its employee stock ownership plan. A senior manager of the Jamaica Stock Exchange Limited purchased 342 shares on December 8 while a director purchased 9,684 shares on December 15. A director of Jamaica Broilers Group Limited sold 28,515 shares on December 12 while another director purchased 30,840 shares on December 14.

FirstRock Real Estate Investments Limited purchased 350,000 USD shares between US$0.0749 and US$0.080, and 380,000 JMD shares between $13.38 and $15.00 on November 29 under its share buy-back programme. This brings the number of USD shares repurchased to 2,400,000 shares relative to the maximum 24,777,232 share cap and number of JMD shares repurchased to 1,130,000 shares relative to the maximum of 3,825,300 share cap.

Radio Jamaica Limited Chairman Joseph M Matalon has elected that his share entitlements from his direct stake and through two entities he controls in the RJR & 1834 scheme of amalgamation be allotted to ICD Investments Limited. There was a trade related to Matalon’s direct stake, Kaytak Investments Limited and Kaytak St Lucia Limited, on December 9 totalling 241,038,117 shares at $1.92 each for a total value of $462.79 million on the Jamaica Stock Exchange which are now allotted to ICD Investments Limited.

Stanley Motta Limited has declared a dividend of $0.075 to be paid on January 17 to shareholders on record as of January 3. This payment totals $56.84 million.

Tropical Battery Company Limited had declared a dividend of $0.04 to be paid on January 30 to shareholders on record as of January 17. This payment totals $52 million and is twice the $0.02 paid last year.

Lasco Distributors Limited has decided not to appeal the Court of Appeal’s ruling on the matter against Pfizer based on advice from its attorneys-at-law Chen Green and Company.

The Caribbean Information and Credit Rating Services Limited (Caricris) assigned Ansa Merchant Bank Limited a ‘high’ (CariAA) credit rating while Jamaica National Group Limited was assigned an ‘adequate’ (CariBBB) rating. The Jamaica Public Service Company Limited and PanJam Investment Limited had their ‘good’ (CariA) rating reaffirmed by Caricris. Mystic Mountain’s rating has been suspended while the Eastern Credit Union Co-operative Society Limited is no longer rated by Caricris.

— David Rose