Company expected to be delisted from the Jamaican stock market

Durrant Pate/Contributor

Real estate and investment company, 1834 Investments Limited is advising that trading in its shares on the Jamaica Stock Exchange (JSE) will be suspended, effective October 25.

The suspension in trading will facilitate the processing of shareholder payment elections and related final payments of cash and/or Radio Jamaica Limited (RJR) shares to 1834 shareholders. This is being done in accordance with 1834’s Scheme of Arrangement, pending final approval from the Supreme Court of Jamaica.

It is anticipated that, if the Scheme of Arrangement is sanctioned by the Supreme Court on or before November 24, 2022, there will be no further trading in 1834 shares on the JSE. As such, 1834 Investments, the real estate and investment spin-off of the former Gleaner Company Limited should be delisted from the JSE.

Shareholders of 1834 Investments , at their August 10 meeting this year, approved the proposed Scheme of Arrangement in which the company would be amalgamated with RJR, Jamaica’s largest media group.

1834 Investment’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.

Two years ago The Gleaner Company was bought out by RJR Group and its operations amalgamated to form the RJRGLEANER Communications Group with the real estate and investment holdings of the Gleaner Company transitioning to a new company, 1834 Investments, which is now being subsumed by RJRGLEANER.