Salada Foods Jamaica Limited (SALF) has advised the shareholders in attendance at the Company’s 56th Annual General Meeting, held on March 18, 2021 and hosted virtually, in accordance with the Court Order of the Supreme Court of Jamaica, dated February 18, 2021, in Claim Number SU2021CD00014, voted unanimously on the following Special Business Resolutions to increase the Company’s authorized share capital and a ten to one stock split:
1. That the maximum number of shares that the Company is entitled to issue be and is hereby increased from 500,000,000 shares of no par value to an unlimited number of ordinary shares, such shares to rank pari passu with the existing shares in issue.
2. That each of the issued ordinary shares in the capital of the Company be subdivided into 10 ordinary shares with effect from the close of business on Wednesday, March 31, 2021, resulting in the total issued capital of the Company being increased from 103,883,290 ordinary shares of no par value to 1,038,832,900 ordinary shares of no par value.
3. That all the shares in the Company which are not yet issued be and is hereby converted into stock units when issued and fully paid.
SALF further advised that the shareholders in attendance by majority vote, also approved as Special Business, a resolution with amendments to various articles of the Company Articles of Incorporation, which allow for the Company’s Annual General Meetings to also be held virtually through electronic means.