PanJam Investment Board To Consider APO At Special Meeting.

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PanJam Investment Board To Consider APO At Special Meeting

The board of investment company, PanJam Investment Limited is considering an additional public offer (APO) of shares, as it seeks to raise capital to grow the company and expand its investment pipeline.

The announcement comes three months after PanJam announced last November that it has entered into an agreement with Portland Private Equity to each acquire a 15 per cent ownership stake in the Montego Bay-based Outsourcing Management Limited (OML), which trades as itelbpo.

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The board has called a special meeting to be convened on Tuesday, March 3, 2020 to consider the APO as well as a number of options available to the company. These include an increase in the authorised share capital of the company to facilitate the APO and a stock split.

A stock split is usually engineered to ensure that there is no dilution of the stock's value to investors. In a stock split shareholders benefit from a greater volume of shares held in the company but there is no direct benefit in terms of dividend payments.

These options, if recommended by the board, will be put to the shareholders for approval at an extraordinary general meeting (EGM) to be convened with the appropriate notice.

In a notice to the Jamaica Stock Exchange (JSE), where its stocks are traded, PaJjam states that it will provide further details after the board has resolved to make any proposal to the shareholders at the EGM in relation to the APO, stock split, and an increase in the company's authorised share capital.

PanJam has invested in Jamaica for over 50 years, and is among the largest publicly listed companies in the Caribbean. As an investment holding company, PanJam generates shareholder returns through three distinct activities.

It provides property management services in Jamaica, including rental, management and development of commercial real estate properties, and captive insurance. The company also takes actively managed positions in both public and private companies, throughout the Caribbean but primarily in Jamaica.

It also trades equities and fixed income assets for its proprietary portfolio.

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