Scotia Investment Jamaica Limited announced on Tuesday, October 2, 2017 that the Supreme Court has approved and sanctioned the scheme of arrangement pursuant to the stock units of the company. The Scheme will see shares held by the minority shareholders being cancelled, and in consideration of which, shareholders shall receive J$38.00 per share or the US$ equivalent from the Scotia Group Jamaica Limited. The court order was filed with the registrar of companies and the Scheme has now become effective as at October 2, 2017. The company stated that payments to minority shareholders will be dispatched by October 3, 2017. Payments to stockholders listed on the Trinidad and Tobago Stock Exchange and stockholders in Jamaica who have elected to receive payment in United States dollars will have their payment converted at a rate of US$1.00 to J$129.99 which is the selling rate published by the BOJ on September 28,2017. Please click the link below to view press release attached.
PRESS-RELEASE-Supreme-Court-Approves-Scotia-Investments-Jamaica-Limited-Scheme-of-Arrangement