June 12, 2019

 

SSL Venture Capital Jamaica Limited (SSLVC) has advised that the Company completed its rescue mission of C2W Music Limited last year under the Jamaica Stock Exchange (JSE) rules.

SSLVC has also advised that the Company completed its initial seed investments of group companies under SSL Ventures whereby it owns 50% or more in each of the following:

1. Blue Dot Data Intelligence Ltd
2. Muse 360 Integrated Ltd
3. Bar Central Ltd

SSLVC has further advised that its centralized team is committed to resolving all the accounting issues raised and the Company intends to:

1. write to the Tax Administration of Jamaica (TAJ) to request that the Company’s year-end be changed to June 30, 2019 to be in line with the rest of the group
2. publish its 1st quarter unaudited results as at March 31, 2019 by June 14, 2019
3. call an Annual General Meeting to align the external auditors of all the companies within SSLVC by June 18, 2019
4. re-issue its audited financials as at December 31, 2019 by June 20, 2019
5. post the reissuance of the audited financials as at December 31, 2018 and the appointment of the group external auditors. The Company will seek to retain Baker Tilly for internal audit services only, by July 10, 2019
6. conduct another audit as at June 30, 2019 and provide audited financials to the JSE by August 31, 2019.

For further details, please visit www.jamstcockex.com

 

Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.