The 46th Annual General Meeting (AGM) of the Jamaica Stock Exchange (JSE) was held on Thursday, June 22, 2023, in hybrid format, from JSE, 40 Harbour Street, Kingston. Although the AGM was held in a hybrid format, many shareholders took the opportunity to attend face to face. The meeting was chaired by the JSE’s Chairman, Mr. Julian Mair.
“In his report to the shareholders on the year 2022, Chairman Julian Mair said, “We are pleased to report that the JSE raised J$6.84 Billion and had 12 listings in 2022. The JSE also recorded its one hundredth (100th) listing in 2022, which was marked by a historic listing ceremony in September 2022.”
“The Company is encouraged by the buoyancy of the capital market, which was demonstrated by listed companies’ continued use of the Exchange to raise additional capital and the oversubscription of initial public offerings during the period. The 2022 financial performance spotlights the hard work of the JSE’s Board of Directors and the wider JSE team. During the period under review, the JSE generated in excess of J$500 Million in profit. Profits increased to J$503 million from J$497 million in the previous year. Total equity for 2022 increased from J$1.9 billion to J$2.2 billion and earnings per share moved from 71 cents to 72 cents.”
“During 2022, the JSE continued to successfully deliver on its strategic goals and objectives. We take pride in the fact that the company either met or exceeded these goals or made substantial strides towards achieving them,” Mr. Mair added
The JSE’s Chairman also stated the Company’s intent in the immediate future:
o Continued regional and global expansion through partnership building;
o Further digitization and commercialization;
o Strengthening of the Company’s Corporate Governance framework;
o The introduction of additional products and services to further diversify the Company’s income streams; and
o Increased participation in Corporate Social Responsibility through its continued support of the Jamaica Social Stock Exchange.
Dr. Marlene Street Forrest, JSE’s Managing Director, in her 2022 report said, “Our strategic approach to sustainability is grounded in the sound principles of governance, the use of technology, the effective utilization of people and processes and this multidimensional approach has continued to drive our transformation and growth. Our emphasis and spending on communication, market education and public awareness is also key to our achieving the for local, regional, and international expansion. With technology in the industry moving at a fast pace, and many new legislations being contemplated or on the cusp of being implemented that could affect our operation, the Group has been ensuring our operational readiness. Consequently, our team has spent a considerable number of manhours on the areas of Business Continuity, Cyber Security, Data Protection, Enterprise Risk Management and Data Management policies and procedures ensuring that not only are the frameworks in place but that they are operational.
“Our priorities for 2023 are to deliver on our strategies of empowering our workforce, providing the tools necessary to advance our plans, collaborate with external stakeholders who crave the same development for the market and Jamaica and leveraging our platforms towards market efficiency,” she said.
“We are confident that our strategy for development will ensure the success of our investors, companies, and attractiveness of our markets,” stated Dr. Street Forrest.
At a Special Board Meeting held after the AGM, Mr. Julian Mair and Mr. Steven Whittingham were reelected Chairman and Deputy Chairman of the JSE, respectively.
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CONTACT:
Mr. Neville Ellis
Marketing Manager
Telephone: 876-967-3271/876-322-0984
