Petition slated to be heard on May 31 while Jamaican Teas and QWI Investments will also have their petitions heard by the court

The Jamaica Stock Exchange (JSE) is returning to the Supreme Court later this month, as it seeks permission on behalf of 24 listed companies to hold their annual general meetings (AGMs) and other shareholders meeting virtually.

The court has set May 31 at noon to hear the petition, Claim Number SU 2021 CD 00196, in which the equities trading regulator, as a representative claimant for the 24 publicly listed companies, is seeking an order from the high court. The order being sought permits the listed companies to hold their AGMs and extraordinary general meetings virtually.

The order being sought covers “meetings over the years 2021, 2022 and 2023 or for so long as Jamaica remains or is designated a disaster area pursuant to the Disaster Risk Management Act (whichever period is longer) in a manner to be specified by the court involving live stream or electronic broadcast”.

Listed companies in which the JSE is petitioning the court on behalf

The petitioning listed companies are 1834 Investments Limited, Access Financial Services Limited, AMG Packaging and Paper Company Limited, Berger Paints Jamaica Limited, Caribbean Assurance Brokers Limited, Derrimon Trading Co. Limited, G West Corporation Limited, Iron Rock Insurance Company Limited, JMMB Group Limited, Jamaica Public Service Company Limited, Jamaica Stock Exchange Limited, Kingston Properties Limited and Lasco Distributors Limited.

The list is completed by Lasco Financial Services Limited, Lasco Manufacturing Limited, Main Event Entertainment Group Limited, Medical Disposables & Supplies Limited, Mayberry Investments Limited, Radio Jamaica Limited, Seprod Limited, Supreme Ventures Limited, The Limners and Bards Limited, tTech Limited and Wigton Windfarm Limited.

Copies of the Fixed Date Claim Form, the Affidavit in support of the Fixed Date Claim Form, and the Formal Order permitting this publication, among other things, may be found at the JSE’s website at www.jamstockex.com and the websites of each company.

The JSE filed two similar petitions last year, seeking orders for those listed companies to hold their 2020 AGM virtually.

Jamaican Teas and QWI have filed separate petitions for virtual AGMs

In the meantime, associated listed companies, Jamaican Teas and QWI Investments have filed separate petitions to the Supreme Court to hold their AGMs virtually. Both AGMs are scheduled to take place on June 20.

The petitions also seek permission for voting to take place at the virtual AGM. John Mahfood, both a director of Jamaican Teas and QWI Investments is listed as the claimant in both petitions. That matter will also be heard by the Supreme Court.