Radio Jamaica Limited (JMSE:RJR) entered into scheme implementation agreement to acquire 1834 Investments Limited (JMSE:1834) for JMD 1.5 billion on April 22, 2022. Under the proposed transaction mechanism, each shareholder in 1834 Investments may elect to receive 0.403125 shares in Radio Jamaica Limited per 1834 Investments share, or cash payment of JMD 1.29 per 1834 Investments share or combination of shares in Radio Jamaica Limited and cash. Prior to both companies considering the recommendations of their management on this matter, both 1834 Investments and RJL established committees comprising members without cross directorships to examine the opportunity. The 1834 Investments Committee comprised Morin Seymour, former director, and Terry Peyrefitte, executive director, under the chairmanship of director Monica Ladd. The Radio Jamaica Limited Committee comprised Chief Financial Officer Andrea Messam and executive directors Gary Allen and Christopher Barnes, under the chairmanship of director Carl Domville.

The 1834 Investments Committee unanimously recommended to its Board, and the Board agreed, that the agreement should be put to shareholders for approval and if secured, to seek the approval of the Court for same. Ernst and Young acted as fairness opinion provider to 1834 Investments Limited.

Radio Jamaica Limited (JMSE:RJR) completed the acquisition of 1834 Investments Limited (JMSE:1834) on December 8, 2022.