Special Advisory: GraceKennedy Limited (GK)

Date: January 21, 2020

GraceKennedy Limited (GK) has announced plans to further strengthen and expand its Financial Division through an offer by the holding company, GraceKennedy Financial Group Limited (GKFG), to acquire general insurance entity, Key Insurance Company Limited, a company listed on the Junior Market of the Jamaica Stock Exchange.

The offer follows the acquisition, in December 2019, of 15% of Key Insurance’s shares. In pursuing ownership of the entity, GraceKennedy intends to limit its share acquisition to not more than 80%, so that Key Insurance will remain listed on the Junior Market. The offer will be open for acceptance by Key Insurance’s shareholders at 9:00 a.m. on January 27, 2020, and end at 4:30 p.m. on February 17, 2020.

For further information, please visit www.jamstockex.com


Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer(s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view(s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.