April 3, 2023
PanJam Investment Limited (PJAM) has advised that a Director exercised his stock options for 400,193 PJAM shares on March 31, 2023. PJAM has further advised that a connected party sold 400,193 PJAM shares on March 31, 2023.
PJAM has also advised of the successful completion of the amalgamation process with Jamaica Producers Group Limited (JP), which was approved by the shareholders of both companies on December 22, 2022. The amalgamation agreement between the two Jamaican conglomerates, saw JP transfer its material businesses to PJAM in exchange for JP receiving a 34.5% ownership stake in PJAM.
Following the successful completion of the amalgamation of the material businesses of JP and PJAM, PJAM has announced the following changes, all of which are effective on April 1, 2023:
Change of Name to Pan Jamaica Group Limited
- In line with shareholder approval received on December 22, 2022, PJAM has changed its company name to Pan Jamaica Group Limited.
Senior Management Changes:
- Mr. Jeffrey Hall, CD has been appointed Chief Executive Officer of Pan Jamaica Group Limited.
- Ms. Joanna Banks has been appointed President of Pan Jamaica Group Limited.
- Mr. Alan Buckland has been appointed Chief Financial Officer, Pan Jamaica Group Limited.
- Mr. Eric Scott has been appointed Deputy Chief Financial Officer of Pan Jamaica Group Limited.
- Ms. Simone Pearson has been appointed General Counsel of Pan Jamaica Group Limited.
Appointments to the Board of Directors
- PJAM has appointed Mr. Jeffrey Hall, CD to its Board of Directors. He will also serve as Executive Vice Chairman of the Board.
- Mr. Alan Buckland and Mr. Charles Johnston, CD have also been appointed to the Board of Directors.
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 affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.