Date: December 12, 2018
The Palace Amusement Company Limited held its annual general meeting today, located at its headquarters on South Camp Road. The meeting commenced with Chairman, Mr. Douglas Graham highlighting that the 2018 financial year was a remarkable one, and possible one hard to beat. During the course of the year, he also highlighted that they have disposed of the real estate in Habour View, subsequent to winding up the operations of Harbour View Cinema Company Limited. Notably, he indicated net proceeds from this transaction will be allocated to shareholders.
Looking ahead, the following outlook was provided:
- In short order, Palace will introduce laser technology in their cinema projection–This will offer a superior light quality for films.
- Introduce disposable 3D glasses in some of their locations- this is in response to customer preference and requests.
- Re-entry in to the Portmore community – offering of four (4) screens, less than 700 seats and a sectional VIP area with reclining seats. This is projected to be completed in Easter of 2019. Notably, Mr. Douglas however highlighted the lease has not been signed but the Company is operating in good faith.
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