Special Advisory: Salada Foods Jamaica Limited (SALF)

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.


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