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Trading summary for week ended January 31, 2014
Sagicor Financial Corporation – 29.01.14
Kingston—Sagicor Group Jamaica announced that the company will be acquiring RBC Royal Bank (Jamaica) Limited and RBTT Securities Jamaica Limited (collectively “RBC Jamaica”) from Royal Bank of Canada. The acquisition, subject to all regulatory approvals, is expected to be finalised in the coming months. Financial terms of the transaction were not disclosed.
Richard Byles, President and CEO of Sagicor Group Jamaica, said the move to acquire RBC’s Jamaican operations “provides the opportunity to expand Sagicor’s banking footprint, allowing us to serve our customers better.”
Sagicor Group Jamaica is a financial services conglomerate with business in Jamaica, Cayman Islands and Costa Rica. The Group offers products and services in the areas of Banking, Insurance, Investments, Real Estate, Asset Management and Retirement Planning.
Sagicor Life Jamaica Limited is the leading Life and Health insurance provider in Jamaica. The Company commenced operations in 1970 as Life of Jamaica Limited, the first locally owned life insurance company and the first life insurance company to be listed on the Jamaican Stock Exchange (JSE). Sagicor Group Jamaica is a member of the wider Sagicor Financial Corporation. Sagicor Financial Corporation operates in over 20 countries and its operations date back to 1840.
Sagicor Financial Corporation – 29.01.14
Sagicor Financial Corporation has informed the Stock Exchange that Mrs Joyce Dear would have had to retire from the Board of the Company at the end of the next Annual Meeting and she would not have been eligible for re-appointment. Mrs Dear has however opted to resign from the Board with effect from January 15, 2014. Consequent upon her resignation, the Board of Directors has appointed Mr Richard Young, Chartered Accountant as Director effective January 23, 2014 to serve for Mrs Dear’s unexpired term.
Trinidad Cement Limited – 28.01.14
Trinidad Cement Limited (TCL) has informed the Stock Exchange that Mr Andres Pena has been appointed Group Strategy Implementation Manager effective November 1, 2013. This appointment is in accordance with Clause 24.29 of the Override Agreement of the Group’s Debt Restructuring exercise which was concluded in May, 2012.
In addition, as part of the Group’s developmental plan for its Executive Managers, the General Managers of two subsidiaries, namely TCL Packaging Limited (TPL) in Trinidad and Arawak Cement Company Limited (ACCL) in Barbados are currently involved in a cross-posting exercise.
Accordingly, the portfolios of General Manager at ACCL and TPL are currently being held by Mr Derrick Isaac and Mr Rupert Greene respectively.
ANSA McAL Limited – 28.01.14
ANSA McAL Limited has informed the Stock Exchange that on January 21, 2014 a Director transferred 30,000 shares to a connected person.
Trinidad & Tobago Stock Exchange Limited (TTSE)
On July 11, 2013 the Board of the Trinidad and Tobago Stock Exchange (the Exchange) approved the de-listing of BCB Holdings Limited (BCBTT) subsequent to which the Exchange submitted an application to the Trinidad and Tobago Securities and Exchange Commission to have BCBTT de-listed. In light of this trading in BCBTT has been suspended with effect from Monday, July 22, 2013.
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