1834 Investments Limited, “1834”, formerly known as The Gleaner Company Limited has officially began trading on the main market of the Jamaica Stock Exchange under its new name.

The change of name legally became effective last month, following the merger of the media businesses of The Gleaner Company Limited, “Gleaner”, with that of Radio Jamaica Limited, “RJR”.

1834 Investments Limited, having parted with its media businesses, retains an asset base of approximately two billion dollars comprising local and international securities and real estate assets.

The company says it will now focus on maximising returns from this investment portfolio on behalf of its 3,000 existing shareholders.

According to company Chairman, Oliver F. Clarke the business of 1834, though smaller and with no media assets, presented an attractive opportunity to maximize shareholder value.

Among 1834’s assets are direct and joint venture commercial real estate holdings in downtown Kingston, Montego Bay, and overseas in Toronto, Canada. All of these are tenanted properties generating income. Remaining investments include a diversified portfolio of local and international equities, bonds and corporate notes valued in excess of J$1 billion.

Clarke says the recent divestment of the Gleaner’s media businesses to RJR represents a positive step for preserving media independence in a challenging economy and was the best option for the company’s shareholders.

Each Gleaner shareholder is entitled to one RJR share for each Gleaner share previously held.