June 21, 2019
NCB Financial Group Limited (NCBFG) has announced that NCB Capital Markets Limited (“NCBCM”), a subsidiary of NCBFG, has enter into a share purchase agreement with Sagicor Investments Jamaica Limited, Fundy Bay Equity Holdings Limited (affiliated with Mark Thompson) and Resource in Motion Limited (affiliated with Donavan Lewis) for the sale of NCBCM’s 100% stake in Advantage General Insurance Company Limited. NCBFG further advised that the Share Purchase Agreement contemplates that the shares will be sold for a consideration of US$50,500,000.00 (approximately J$6,592,775,000.00). Completion of the transaction is subject to regulatory approval. NCBFG has also advised that two Directors purchased a total of 15,751,900 NCBFG share and that two connected parties sold 15,750,000 NCBFG shares. These transactions were conducted during the period June 18 to 19, 2019.
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