Mayberry West Indies Limited To Be Renamed Mayberry Jamaican Equities Limited And Listed On The Jamaica Stock Exchange
The Board of Directors for Mayberry Investments Limited has advised the Jamaica Stock Exchange that following the passing of a resolution authorizing the Company to take the requisite steps, will be seeking to change the name of its wholly-owned subsidiary, Mayberry West Indies Limited, to Mayberry Jamaican Equities Limited.
The Board also passed a resolution authorizing the Company to take all necessary steps to cause Mayberry Jamaican Equities Limited to be listed on the Jamaica Stock Exchange, before the end of the first quarter of 2018.
At the last Annual General Meeting of Mayberry Investments Limited, stockholders had authorized the Board to reorganize Mayberry West Indies, to enhance shareholder value and carry out such transaction or series of transactions as the Board deemed fit.
The Board has also declared a dividend equivalent to 10% of the Net Book value of Mayberry West Indies.
The dividend will be effected by transferring, pro rata among its stockholders, shares in Mayberry West Indies held by the Mayberry Investments and constituting 10% of Mayberry West Indie’s issued share capital.
Based on Mayberry West Indie’s book value as at November 30, 2017, the dividend is equivalent to approximately J$688 million.
The dividend will be distributed to shareholders on record as at February 16, 2018 with an ex-dividend date of February 15, 2018.