Durrant Pate/Contributor

Jamaican-based regional financial group, JMMB Group Limited, has elected to have trading in four of its preference shares suspended.

Last week the Board of JMMB Group passed a resolution to suspend trading in the four preference share tranches at the end of trading on February 18 2025, until end of trading day on March 6, 2025. The four preference shares, which will be suspended from trading are:

• Cumulative Redeemable 5.75% USD Preference Shares 2018
• Cumulative Redeemable 7.25% Variable Rate JMD Preference Shares 2018
• Cumulative Redeemable 5.50 % USD Preference Shares 2018
• Cumulative Redeemable 7.00% Variable Rate JMD Preference Shares 2018

Reasons for suspension 

The purpose of the suspension is to facilitate payment of redemption payments in respect of the Cumulative Redeemable 5.50 % USD Preference Shares 2018 and the Cumulative Redeemable 7.00% Variable Rate JMD Preference Shares 2018, which are to be redeemed on March 6, 2025:

The suspension will also facilitate the issuing of notices of Separate General Meetings scheduled for March 3, 2025, for holders of the following classes of preference shares:

a. Cumulative Redeemable 5.75% USD Preference Shares 2018
b. Cumulative Redeemable 7.25% Variable Rate JMD Preference Shares 2018

Two classes of pref shares delisted

Last month Our Today reported that JMMB Group delisted two classes of preference shares on the Jamaica Stock Exchange while extending another two classes, as the Jamaica-based regional financial conglomerate reorganises its liabilities. The two classes of preference shares being delisted are the Cumulative Redeemable 7.25% Variable Rate JMD and the Cumulative Redeemable 5.75% USD. 

Payment for these shares was on January 14. The two classes of shares extended are the Cumulative Redeemable 7.50% Variable Rate JMD and the Cumulative Redeemable 6.00% USD. They have both been extended to January 14, 2030.