March 22, 2021
Salada Foods Jamaica Limited (SALF) has advised that at the Annual General Meeting of the Company held on Thursday, March 18, 2021, pursuant to a Court Order made by the Supreme Court of Judicature of Jamaica in Claim Number SU2021000014, the following Special Business resolutions were unanimously approved:
1. That the maximum number of shares that the Company is entitled to issue be increased from 500,000,000 shares of no par value to an unlimited number of ordinary shares, such shares to rank pari passu with the existing shares in issue.
2. That each of the issued ordinary shares in the capital of the Company be subdivided into 10 ordinary shares with effect from the close of business on Wednesday March 31, 2021 resulting in the total issued shares capital of the Company being increased from 103,883,290 ordinary shares of no-par value to 1,038,832,900 ordinary shares of no par value.
3. That all the shares in the Company which are not yet issued be and is hereby converted into stock units when issued and fully paid. SALF has further advised that the Shareholders in attendance by majority vote also approved as Special Business, a resolution with amendments to various articles of the Company’s Articles of Incorporation. These amendments allow for the Company’s General Meetings to also be held virtually through electronic means.
Disclaimer:
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.
