Sunday 29 March, 2020

PanJam seeks to increase shares

PanJam CEO Stephen Facey

PanJam CEO Stephen Facey

Panjam Investment Limited (PJAM) wants to increase its shares through two processes that include issuing new shares and subdividing its shares by a stock split.

The board of directors will convene a special meeting on Tuesday, March 3 to consider the matter.

Subsequently, these options, if recommended by the board, will be put to the shareholders for approval at an Extraordinary General Meeting (EGM), said PJAM.

The conglomerate holds investments in a number of financial, food and hospitality ventures, but is a real estate developer and leaser at its core.

There are currently one billion ordinary shares in circulation with a market capitalisation of just over $105 billion.

PJAM stated that further details will be submitted to the Jamaica Stock Exchange after the board has resolved to make any proposal to the shareholders at the above-mentioned EGM in relation to any of the matters.

The conglomerate holds the largest stake in Sagicor Jamaica, the island’s largest insurance provider.

 

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