Subcription for Shares in KWL by JP

Posted: April 2, 2012 at 12:00 am


Kingston Wharves Limited has advised that by Ordinary Resolution passed at an Extraordinary General Meeting of the Company held on March 29, 2012, the Company`s share capital has been increased by the issue of 357,550,000 ordinary shares, and the newly issued shares have been allotted to Jamaica Producers Group Limited (JP) for a total purchase price of $1,787,750,000. The Company`s articles of Incorporation have been amended to permit individuals or groups of persons holding 21% of the shares of the Company to appoint 3 directors to the Board, and that Kathleen Moss and Jeffrey Hall have been appointed directors of the Company based on nomination by JP.

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