FOR IMMEDIATE RELEASE:
May 27, 2015
Proven Investments Cross-List its Shares on the Jamaican Dollar Market
(KINGSTON, May 27, 2015): Proven Investments today, Thursday, May 27, 2015, cross-listed its 551,595,777 Ordinary Shares currently listed on the US Dollar Market to the Main Jamaican Dollar Market. This is the first time that a company is cross-listing its securities on more than one market of the Exchange.
Proven shares are now listed on the Main Jamaican Dollar Market at a price of $18.50 which represents the price at which the shares were sold during the Company’s recent renounceable rights issue.
Mrs. Marlene Street Forrest commenting on the cross-listing of Proven Investments stated that “The JSE is happy to facilitate the cross-listing of the Company as this allows investors in Proven’s stocks to choose the market in which they wish to participate at any given time”
In speaking also on the rights issue, Mrs. Street Forrest stated she was encouraged by companies who after listing, seek to use the benefits of listing to return to their shareholders to secure fund to continue their expansion, debt retirement or whatever the needs of the companies. This can be done through a rights issue as Proven has successful done, or a bond or preference share issue. She further stated that “Investors have the opportunity to invest in solid companies listed on the markets, through these medium.”
According to PROVEN Wealth President & CEO, Chorvelle Johnson “PROVEN Wealth is proud to have played the role of Lead Broker in another successful Rights Issue and I am certain the other Brokers on this transaction – NCB Capital Markets, Sagicor Investments and Scotia Investments share my sentiments. We are even more pleased to know that this particular issue is one of the largest offers in the history of the Jamaica Stock Exchange; our aim is to continue to align ourselves with entities that are pushing the boundaries of history and to encourage other market players to further their Company’s success through listing.”
JAMAICA STOCK EXCHANGE
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