SSL Venture Capital Jamaica Limited To Specialize In Private Investments Into Targeted Companies That Show Great Promise – Croskery
C2W Music Limited’s name is now legally changed to SSL Venture Capital Jamaica Limited and has been replaced on the Jamaica Stock Exchange board with a new stock ticker, changing from “MUSIC” to “SSLVC”.
Managing Director of the Jamaica Stock Exchange, Marlene Street Forrest said that the rescue of the loss making C2W Music Limited was the first of its kind in Jamaica and applauded the SSL Group for its collaboration in working with the two regulatory entities the JSE and Financial Services Commission of Jamaica to ensure that the rescue was successfully executed and adhered to the Junior Stock Exchange Rules.
Commenting further, the JSE Managing Director said that shareholders who supported this change will be looking for growth, and that this will forge a path for the Company to grow, mature and to give benefit to the shareholders.
Mark Croskery, Chairman of SSL Ventures in his remarks indicated that the SSL Group was here at the end of the day to stand by their shareholders, indicating that what they have done is to take their poorest performing investment in the past 10 years, restructured it and stood by their top 10 shareholders who helped fund the company.
SSL Venture Capital Jamaica Limited is now valued at J$800 million based on market capitalization and will specialize in making private investments into companies that show great promise in regard to revenue growth, taking these businesses public on the Jamaica Stock Exchange, or divest them through private sale to third parties throughout the Caribbean.
Specifically, SSL Ventures will focus on making investments into new businesses that have promising technology, an innovative business concept, or are existing businesses that are seeking rapid growth within their field.
SSL Ventures will then work with the portfolio companies to grow each company to a level where it is ready for a trade sale or IPO on the Junior Stock Exchange.
It is through the successful exit of companies that SSL Ventures will realize returns for its shareholders he said.