July 11, 2018
Portland JSX Limited held its 2nd Annual General Meeting (AGM) today July 11, 2018 at the Pegasus Hotel (Rio Bueno Suite). Opening remarks were made by Chairman, Holly Hughes-McNamara, where she welcomed shareholders and visitors present at the meeting.
The company’s investment in PCF II grew 90% reflecting active development of capital by the fund and net appreciation of portfolio companies. PCF II successfully closed in September 2016 raising capital commitments from its limited partners in excess of US$200 million, thereby becoming one of the largest sources of private equity financing in the region. PCF II has already made seven investments to date throughout the LATAM/ Caribbean region. Over 66% of total available capital is already deployed or committed. The foundation for future growth of net asset value and internal rate of return is quickly being established in exciting well-run businesses.
PJX’s for the year ended February 2018 amounted to USD$1.90 million which translated to an earnings per share of USD$0.0061.The main focus for the company according to the Chairman will be the, “continued support of PCF II in its investment activity and the management of the Company’s cash resources.” In closing, the Chairman thanked shareholders for their support and invited them to stay for refreshments.
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