Jamaica Producers Group Limited (JP) has advised that the Board of JP approved the placing of the resolution for set out below for the issue of bonus shares to the shareholders of the Company at the Annual General Meeting on June 24, 2016.
“THAT the sum of $93,512,003.00 being part of the amount standing to the credit of the capital reserves of the Company be applied in making payment in full of 935,120,030 ordinary shares at ten cents ($0.10) each in the capital of the Company such shares to be distributed as fully paid in accordance with Article 113(b) of the Articles of Incorporation of the Company or among the persons who are registered as holders of the ordinary stock in the capital of the Company on July 12, 2016 at the rate of five (5) shares for every existing one (1) share held by them and that such ordinary shares be immediately converted to ordinary stock upon their issue and rank par passu for dividends and voting rights with existing shares as of July 12,2 016.”
