Thursday 9 July, 2020

Proven to issue new share offer

Christopher Williams, President & CEO of Proven Management Limited, the investment managers of Proven Investments.

Christopher Williams, President & CEO of Proven Management Limited, the investment managers of Proven Investments.

Proven Investments Limited has indicated that it will launch an invitation to the public to participate in an Additional Public Offer (APO) of its ordinary shares.

Funds raised will assist the Proven Investments in ensuring that it has sufficient access to equity to support the short to medium-term strategic focus, the company said in a statement.

Christopher Williams, President and CEO of Proven Management Limited, the investment managers of Proven Investments, outlined the strategy and opportunity the APO presents to investors.

“I welcome all your interest in participating in what will actually be the first time Proven has made an unrestricted offering of ordinary shares to the public. While its ordinary shares have been listed on the JSE since July 2011, Proven has never before conducted an offering of ordinary shares that is open to participation by every member of the investing public in Jamaica,” said Williams.

Williams said Proven’s substantial portfolio of investments in Jamaica, the Cayman Islands and St Lucia - in addition to solid financial performance – is indicative that Proven’s team remains committed to generating above-average, sustainable return on investments for the benefit of shareholders.

It's hoped to obtain all regulatory approvals in order to facilitate the opening of the additional public offer in February 2020.

A full prospectus and details of the offer will also be released once all regulatory approvals have been obtained, the company said.

Proven Investments is a publicly held investment firm. Its main investment strategies are in private equity; tradable securities and real estate. Proven Investment’s current diversified private equity holdings are its subsidiaries.

Proven Wealth Limited (now merged with Proven Fund Management Limited); BOSLIL Bank Limited in St. Lucia with rep offices in Panama and Uruguay; Proven Real Estate Investment Trust (PREIT); International Financial Planning (Cayman) Limited (IFP); Access Financial Services Limited, and Dream Entertainment Limited and JMMB Group are associated companies of Proven Investments.

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