Scotia Group to pay SIJL shareholders on October 3, 2017
Scotia Investment Jamaica Limited announced on Tuesday, October 2, 2017 that the Supreme Court has approved and sanctioned the scheme of arrangement pursuant to the stock units of the company. The Scheme will see shares held by the minority shareholders being cancelled, and in consideration of which, shareholders shall receive J$38.00 per share or the US$ equivalent from the Scotia Group Jamaica Limited. The court order was filed with the registrar of companies and the Scheme has now become effective as at October 2, 2017. The company stated that payments to minority shareholders will be dispatched by October 3, 2017.
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Lasco Distributors Limited (LASD) optimistic about Pfizer case ruling.
At the Lasco Distributors Limited’s (LASD) Annual General Meeting, Mr. Peter Chin, Managing Director, gave us a brief description of the company. He stated that the company is a Marketing and Distribution Company which has a consumer and a pharmaceutical division. He then began to speak on a few financial highlights for the company’s year-end. Below are the highlights expounded on: Revenue grew 8.6% over the prior year. This was due to “improvement in key brand sales” while increasing marketing activities. Net Profit was $609.7 million, a 15% reduction due to increased expenses. Mr. Chin stated that the company’s increased