Company Chairman Joseph M. Matalon’s shares to be allotted to ICD Investments
Consistent with the court-approved scheme of amalgamation with 1834 Investments Limited and RJR, the allocations of shares in the Jamaican media company from the merger are now being effected.
The allocations of the shares to which 1834 Investments investors are entitled to receive under the transaction, based on directives given with such shares being reflected in changes to individuals’ shareholding in RJR, started yesterday (December 8).
The amalgamation of RJR and real estate and investment company, 1834 Investments, a spin-off from the former Gleaner Company, which was sold to RJR more than five years ago, was completed yesterday.
RJR Chairman Joseph M. Matalon, in full transparency, has advised that he has elected, in respect of himself and two entities controlled by him, that they should have the share entitlements from the scheme of arrangements allotted to ICD Investments Limited, which is also under his control.
Matalon further advised that a trade was made on the Jamaica Stock Exchange yesterday, amounting to 241,038,117 of shares that were previously held by him and entities under his control. Such shares have also now been allotted to ICD Investments Limited.
With these realignments and allotments, all shareholders and connected parties remain below the shareholding limit of 21 per cent in the company.