December 23, 2022
PanJam Investment Limited (PJAM) has advised that at an Extraordinary General Meeting of the Company held on December 22, 2022, PJAM’s shareholders approved the amalgamation of the material businesses of PJAM and Jamaica Producers Group Limited (JP). The approval of PJAM’s shareholders will make way for JP to transfer its operating businesses to JP Global Holdings Limited (a newly incorporated wholly-owned intermediate holding company of JP) by way of a scheme of reconstruction, and for JP Global Holdings Limited to be transferred to PJAM in exchange for JP taking a 34.5% interest in PJAM. PJAM will host the combined group of businesses, which will be called Pan Jamaica Group.
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