Application made for shares to be admitted to Jamaica’s stock market

Durrant Pate/Contributor

RBC Trust (Trinidad & Tobago) has now had its 10 million Class B debt swap shares in the cross-listed regional energy renewables company, MPC Caribbean Clean Energy Limited (MPCCEL) listed on the T&T stock market.

The new Class B shares have been listed following the conversion into equity of a US$10-million Convertible Promissory Note, issued by the renewable energy company, which is based in St Michael, Barbados with operations and assets located across the Caribbean and Central America, including Jamaica, Dominican Republic, Costa Rica, El Salvador, and T&T.

Following the issuance and listing of the New Shares, which was completed last week on July 3, 2026, the total issued and outstanding Class B share capital of MPCCEL has increased from 26,944,861 shares to 36,944,861 shares. As a result, RBC (T&T) now holds approximately 27% of the issued and outstanding Class B shares. 

Plan for Jamaican listing of new shares

A supplemental listing application for the Jamaica Stock Exchange, where MPCCEL shares, also traded, has been initiated. This debt-to-equity swap makes RBC  one of the largest shareholders, holding approximately 27% of MPCCEL’s outstanding Class B shares.

Because the conversion effectively retires the debt and no dilution to the underlying per-share economics is anticipated, the company has reshaped its balance sheet to focus on its core renewable assets across the Caribbean.

MPCCEL was founded in 2017 and operates as an investment fund that sources projects, develops, finances, constructs and operates renewable energy projects throughout the region.

The first quarter of 2026, which ended March 31 saw Earnings Before Interest, Taxes, and Amortization (EBITA), which is a financial metric used by investors and analysts to evaluate a company’s core operational profitability, went flat at USD 2,722,137. This is marginally down from the USD2,736,864 posted a year earlier. This reflected a mixed but ultimately resilient performance across the portfolio, shaped by contrasting operational dynamics.