JSE Jamaica Stock Exchange : Proven Investments Limited (PIL) – Acquisition of JMMB Group Limited Shares

Proven Investments Limited (PIL) has declared that PIL total equity holdings in JMMB Group Limited (JMMBGL), now stands at 326,277,325 shares or 20% of the participating voting shares in JMMBGL. PIL also states that the purpose of the acquisition is to generate dividend income, and to ensure that JMMBGL can be characterized as an associated company of PIL.

PIL also advised that as at the date hereof, PIL does not intend to conduct further purchase of equity in JMMBGL. However, in the future, should PIL intend to purchase five percent (5%) or more of the participating voting shares of JMMBGL, it will be communicated in writing to the Jamaica Stock Exchange.

PIL further states that it does not intend to acquire control of the business nor majority shareholding of JMMBGL, should PIL intend to do so, it will be communicated in writing to the Jamaica Stock Exchange.