November 21, 2022

Jamaica Producers Group Limited (JP) has advised that the Company and PanJam Investment Limited (PJAM) have reached an agreement that will see the amalgamation of their businesses to create a new group of companies. This arrangement, which is subject to the approval of the shareholders of both companies and the relevant regulators, will result in PJAM acquiring JP’s operating assets in exchange for JP taking a 34.5% interest in PJAM. Post-transaction, PJAM, which will ultimately hold the combined businesses, will be renamed Pan Jamaica Group Limited (‘the Group’). JP will emerge as the largest shareholder of the Group, with its shares in the Group being its principal operating asset. Both the renamed Pan Jamaica Group and JP will remain listed on the Main Market of the Jamaica Stock Exchange. The transaction is expected to be completed within the first quarter of 2023.

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