Sygnus Real Estate Finance Limited (“SRF”) announced today that Clement Wain Iton, Chairman of the Board, will resign from SRF’s Board of Directors effective September 30, 2021, following a successful tenure with the Board.
Wain has had a longstanding history with the Sygnus Group and was appointed Chairman of the Board on December 19, 2019. Since his appointment, Wain has provided valuable insight and assistance to the company and presided over its affairs during their private placement capital raise and SRF’s Initial Public Offering (IPO), which closed on September 8, 2021. Under his stewardship, SRF, as a specialty real estate investment company, grew its original share capital from J$2.08 billion to J$3.6 billion, its real estate investment portfolio to J$5.5 billion and net profits of J$ 949.9 million, as of the most recent financial statements as at February 2021.
Wain also served as a member of the Audit and Governance Committee since December 2019.
The Board has appointed Mr. Horace Messado as the Chairman of the Board effective October 1, 2021. Horace, who was appointed to the position of Director on April 1, 2021, is the current Chair of the Enterprise Risk Committee and a member of the Audit and Governance Committee. Horace is a Fellow of the Association of Chartered Certified Accountants (FCCA) and formerly a Member of the Institute of Chartered Accountants of Jamaica. He is currently a consultant at Horace Messado & Associates and is an accomplished Finance Executive with over seventeen years professional and leadership experience in Accounting and Corporate Finance.