PanJam Investment Limited (PJAM) has advised that at a Board of Directors’ meeting held on March 6, 2020 the following items were considered:
a) Approval of the first dividend payment for 2020
b) Approval of the audited accounts
c) Consideration of an Additional Public Offer (APO)
d) Consideration of an increase in the authorized share capital
e) Consideration of a stock split
As it relates to item a) the decision of the Board was duly communicated to the JSE on Friday, March 6, 2020.
At the abovementioned board meeting, the Board also recommended items c), d) and e) for the consideration and approval of the shareholders at an extraordinary general meeting which is to be convened in due course.
PJAM has also advised of a further delay in the submission of the audited financial statements of the Company for the year ended December 31, 2019. Given that the results of Sagicor Group Jamaica Limited (Sagicor Group) are material to the completion of the PJAM 2019 financials, PJAM anticipates that the audited financials of the Company will be published shortly after the release of Sagicor Group 2019 Financials.