Special Advisory: Sweet River Abattoir & Supplies Company Limited (SRA)

Date: August 2, 2019

Sweet River Abattoir & Supplies Company Limited (SRA) has advised of the following resignations:

  • Mr. Valdence Gifford resigned as the Managing Director effective May 31, 2019. Mr. Gifford however continues to serve on a contractual basis until a replacement is selected. He remains a member of the Board of Directors.
  • Mrs. Audrey Deer-Williams resigned as a member of the Board of Directors effective June 7, 2019.
  • Mr Robert Meghoo resigned as a member of the Board of Directors effective July 16, 2019.

SRA has also advised that with the recent challenges faced by the Company, First Global Bank Jamaica Limited, lenders for the debt financing component of the abattoir construction has issued a Demand to the company on July 19, 2019 through their lawyers for the repayment of the balance outstanding on these loans in the amount of J$116m, citing inter alia default in making the agreed payments.

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2019-08-02T21:02:37+00:00