April 16, 2018

Ciboney Group Limited (CBNY) has advised that their Board of Directors has been informed by FINSAC that it wishes to dispose of its interest in CBNY. CBNY states that FINSAC control approximately 72% of the Company’s shareholding through Trumpton Limited [41%], Crown Eagle Life Insurance Company Limited [25%] and Eagle Merchant Bank of Jamaica limited [6%].

CBNY further states that they have noted that “FINSAC has advertised its shareholding for sale in the Gleaner on Sunday, April 8th inviting interested investors to submit offers on April 30th for its entire shareholding. If it is successful in identifying a purchaser, it is anticipated that this ownership will change hands within the first quarter of the new financial year commencing on June 1, 2018.”

 

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