Pan-Jamaican Investment Trust Ltd.(PJAM)- Board Movements

The Hon. Maurice Facey, Chairman of Pan-Jamaican Investment Trust, is pleased to advise that, on completion of the LoJ / First Life transaction, Pan-Jamaican, through its subsidiary, First Life, will become a substantial shareholder in LoJ.
As of March 1, Mr. Richard Byles, CEO of Pan-Jamaican will be taking up the position of CEO of LoJ. However, he will remain a director of Pan-Jamaican and Chairman of the Group’s Investment Committee.
Further to this, Mr Stephen B. Facey has been appointed to the position of President and CEO of the Pan- Jam Gp. Also Mr. Maurice Facey will replace Mr. Byles as Chairman of First Life and Mr. Bryan Ewen will replace him as CEO.
The Boards of Directors of Pan-Jamaican and First Life have indicated they intend to hold a press and investor briefing in the near future to provide further details on the LOJ/First Life transaction and the business plans of Pan-Jamaican and First Life.