The JMMB Group Ltd (JMMBGL) has advised that pursuant to a resolution of their Board of Directors dated September 28, 2017, JMMBGL proposes to voluntarily delist all of its issued and outstanding shares from the Barbados Stock Exchange (BSE). The JMMBGL Shares will continue to be listed on the TTSE and the JSE.
JMMBGL has stated that the reasons for the proposed delisting are as follows:
- There are low levels of trading in the JMMBGL shares on the BSE; and
- The low levels of trading in the JMMBGL shares do not justify the costs and complex regulatory requirements associated with maintaining the listing of the JMMBGL shares on the BSE.
JMMGL advised that by way of a letter to their shareholders, dated July 19, 2018, the shareholders were informed of the Proposed Delisting and that JMMBGL will seek to obtain the shareholders’ approval in respect of the Proposed Delisting by way of a special resolution at the Annual General Meeting, which is scheduled to be held on September 19, 2018, at 10:30 a.m. at The Jamaica Pegasus Hotel, Kingston, Jamaica.