Kingston Wharves Limited (KW) – Acquisition and Dividend Consideration

Posted: December 4, 2018 at 5:29 pm

Kingston Wharves Limited (KW) has advised that by transaction completed with effect from August 31, 2018, KW Logistics Limited, of which KW is the ultimate parent, acquired a 50% shareholding interest in SSL REIT Limited, at a cost of US$473,305.80.

KW further advised that going forward, the transaction and subsequent performance of SSL REIT Limited will be treated for accounting purposes as an investment in associate.   The Company disclosed that it has also made an interest-bearing loan of J$470 million to its new associate and that the loan is adequately secured.

In another statement, KW advised that its Board of Directors would consider a dividend at a meeting scheduled for December 3, 2018. 

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