Business
JM | Aug 16, 2022

1834 Investments’ shareholders vote in favour of amalgamation with Radio Jamaica

/ Our Today

administrator

Company will now apply to the Supreme Court for a final order to sanction the Scheme of Arrangement

Durrant Pate/Contributor

The planned amalgamation of 1834 Investments Limited, the real estate and investment spin-off of the former Gleaner Company Limited with Radio Jamaica Limited, has moved one step closer to reality.

This has come about because the shareholders of 1834 Investments last week approved the proposed Scheme of Arrangement in which the company would be amalgamated with Radio Jamaica, Jamaica’s biggest media house.

1834 Investments held a meeting of its shareholders on August 10, 2022 to consider whether to approve the Scheme of Arrangement and they decisively voted to approve it.

The Supreme Court Public Building East in downtown Kingston.

1834 Investments will now apply to the Supreme Court of Jamaica for a final order to sanction the Scheme of Arrangement. Pending approval by the Supreme Court, Radio Jamaica says it looks forward to welcoming those 1834 Investments shareholders who have elected to receive shares in the media company, as consideration, and who will join in Radio Jamaica as it enters a new phase of growth and transformation as a result of the amalgamation.

Next step forward

Radio Jamaica will, depending on the election of the 1834 Shareholders, (i) arrange for payment of cash consideration and (ii) allot and apply for the listing on the Jamaica Stock Exchange of the new shares to be issued to the 1834 Investments shareholders in the weeks following the approval of the Scheme of Arrangement by the Supreme Court.

Radio Jamaica is incorporated and domiciled in Jamaica and its primary activities, through its various subsidiaries, are the operation of an ‘over-the-air’ television station, three cable television channels, four radio stations and the publication of news and information in print and digital media formats on multiple platforms to global audiences.

The shares of the company are listed on the main market of the Jamaica Stock Exchange as ‘RJR’. 1834 Investments Limited (formerly The Gleaner Company Limited) is a locally incorporated and domiciled holding company for a portfolio of domestic and international investment assets.

The company’s main activity is the management of its income generating real estate, bond and equity investments, and the management of its joint venture and subsidiary companies. The shares of the company are listed on the main market of the Jamaica Stock Exchange as ‘1834’.

Comments

What To Read Next