Oct 2016 Financial News

JSE stock split approved, Paramount moves to split stock as well

Oct 28, 2016

Shareholders of the Jamaica Stock Exchange Limited (JSE) have approved the decision by the board to split the company’s stock.

Meanwhile, Paramount Trading, a manufacturing company listed on the Junior Market of the JSE, is the latest company to consider a split. This company is proposing to ask shareholders for their vote at the annual general meeting scheduled for 10:00 a.m. on October 29.

The JSE Ltd advised the market on Wednesday that at the Extraordinary General Meeting held on October 25, shareholders approved to a subdivision of each of the ordinary shares into five.

The ex-stock split date will be November 4, 2016 and the record date November 8, 2016. The JSE said it will, accordingly, list an additional 561,000,000 ordinary shares, thereby increasing the issued shares from 140,250,000 to 701,250,000.

Source:
Jamaica Observer
Friday October 28, 2016

http://www.jamaicaobserver.com/business/JSE-stock-split-approved--Paramount-moves-to-split-stock-as-well_78538