Special Advisory: FosRich Company Limited (FOSRICH)

November 11, 2022


FosRich Company Limited (FOSRICH) has advised that on November 4, 2022, GraceKennedy Pension Fund entered into an agreement for the construction of a new superstore, estimated to cost $1.8B, on lands currently being leased from the pension fund by FOSRICH. The building will be constructed to FOSRICH specifications and will be subject to a lease, by FOSRICH, for an initial period of 20 years.

FosRich  has also advised that the meeting of the Board of Directors of the Company for consideration of the payment of a dividend, that was previously set for October 25, 2022, was convened on November 1, 2022. The deferral of the meeting of the Board was due to a delay in convening the Audit Compliance & Risk Committee for meeting. The Audit Compliance & Risk Committee is tasked with, among other matters, recommending any proposed dividend to the Board.



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