Sygnus Credit Investments Limited (SCI) is seeking extension on its listed Jamaican and US dollar-denominated cumulative preference shares.

In a notice on the Jamaica Stock Exchange website, the alternative financing outfit informed shareholders that it will be seeking their approval for “changes to the terms of issue of each class of the preference shares” in separate general meetings.

For the Jamaican Dollar Class C shares – 10.50 per cent J$ Cumulative Redeemable Class C Preference Shares – SCI is seeking to extending the maturity of the instrument from December 22, 2025 to December 22, 2028.  In addition, SCI is seeking shareholders’ approvals for “a revision to the dividend yield from 10.50 per cent per annum to 9.85 per cent per annum.”

“Typically, at maturity companies redeem preference shares by issuing new ones offering investors the opportunity to continue earning attractive returns. For the upcoming maturity of the Class C Shares, we have opted for a more efficient and investor-friendly approach by amending the terms of the existing shares rather than issuing new ones. This approach avoids the time-consuming and administratively burdensome process of launching a new issuance, which would require investors to complete fresh application forms and submit supporting documentation,” SCI stated in an advisory to its preference shareholders.

Moreover, the company pointed to the decline in the Bank of Jamaica policy interest rate and the average yield on Jamaican dollar Treasury Bills falling to approximately 5.5 per cent as reasons for the revision to the dividend yield.

SCI has also revised the date and dividend yield for Class D US dollar shares: 8.00 per cent US$ Cumulative Redeemable Class D Preference Shares. The company has proposed a new dividend yield of 7.5 per cent per annum, citing reduction in rate on US Treasury Bills to 3.9 per cent.

Additionally, the company is seeking approval for the maturity to be extended from n December 22, 2025 to December 22, 2028.

General meetings for both share classes will be held on Tuesday, August 26, 2025, in a hybrid at the AC Hotel Kingston’s Rocksteady Ballroom.

SCI has, for the nine months ending March 31, 2025, seen a 60.3 per cent increase in net profit, earning a record US$6.97 million.

“Total investment income reached a record of US$13.22 million, driven by growth across the platform, especially from our Puerto Rican subsidiary, Acrecent, which has delivered record profitability since its reorganisation. For the nine-month period, the private credit platform deployed over US$78 million, underscoring the wealth of opportunities in the alternative investment space that demand innovative solutions and flexible capital. With an investment pipeline exceeding US$100 million, SCI is strategically positioned to scale its regional private credit platform to deliver shareholder value,” the company outlined.