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Corporate Movements- December 2023

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iCreate Limited (“iCreate”) is pleased to announce the addition of Messrs. Anthony Dunn and Donovan White to its Board of Directors as independent non-executive Directors effective December 1, 2023.
Mr. Anthony Dunn is currently the Chief Investment Officer (“CIO”) for Delta Capital Partners Limited. His extensive background includes serving as the Founder and CIO for Ostrich Private Equity Investment Fund LP, as well as holding pivotal roles in renowned organisations such as Jamaica Public Service Company Limited and GraceKennedy Limited. With a proven track record in Strategic and Operational Management, International Finance and Private Equity, Mr. Dunn will play a vital role as a member of the Company’s Audit Committee.
Mr. Donovan White, a seasoned strategist and business leader, joins the Board of Directors with a remarkable career in promoting Jamaica as a global destination. As the head of the Jamaica Tourist Board (“JTB”), Mr. White has achieved significant milestones, one such being surpassing four million (4,000,000) visitor arrivals and strategically re-entering Asian markets. His leadership has been marked by technological innovation, including award-winning digital activations and the “Heartbeat of the World” campaign. Mr. White will also contribute his expertise as a member of the Remuneration Committee.

Unilever Caribbean Limited (UCL) is pleased to announce the appointment of Ms. Ginelle Lambie as an Executive Director on the Board and the Acting Managing Director effective January 1, 2024. Ms. Lambie joined UCL in April 2023 in the role of National Finance Manager. Ginelle holds a Bachelor in Business Administration, a Master of Science in Accountancy and is a Certified Public Accountant. She brings over 20 years of experience in FMCG, Manufacturing, Telecom, Media & Entertainment and Banking in the United States and Trinidad. She has over I l years’ experience in Business Analysis and Financial Reporting in FMCG companies.

Republic Financial Holdings Limited advises of the following change to its Senior Officers effective January 1, 2024:
Karen Tom Yew replaces Baldath Ramkissoon as Chief Risk Officer

Republic Bank Limited advises of the following changes to its General Managers effective January 1, 2024:
. Kimberly Erriah-Ali Group General Counsel/ Corporate Secretary
Aldrin Ramgoolam, currently General Manager, Information Technology Management to General Manager, Commercial & Retail Banking.
Shazard Mohammed, currently General Manager, Commercial & Retail Banking to General Manager, Data Governance & Management Unit.
Denyse Ramnarine, currently General Manager, Data Governance & Management Unit to General Manager, Information Technology Management
Baldath Ramkissoon, currently General Manager, Group Enterprise Risk to General Manager, Group Human Resources
Karen Tom Yew, currently General Manager, Group Marketing & Communications to General Manager, Group Enterprise Risk
Preston George, currently General Manager, Group Human Resources to General Manager, Group Marketing & Communications

Dolla Financial Services Limited (“DOLLA”) wishes to advise that Ms. Alison Lynn, Financial Consultant, and Mr. Walter Scott, Attorney-at-Law King’s Council, have been invited to join DOLLA’s Board of Directors subject to the approval of the Bank of Jamaica in accordance with the Microcredit Act of Jamaica.

Supreme Ventures Limited wishes to advise of the resignation of Mr. Walter Scott, KC as a Director and Chairman of its subsidiary McKayla Financial Services Limited effective November 30, 2023. The company would like to thank Mr. Scott for his invaluable contribution to the Board of McKayla and would like to wish him all the best in his future endeavors.

iCreate Limited (“iCreate” or “Company”) wishes to advise that as at November 24, 2023, the following resignations were effective: –
1. Ms. Arlene Martin resigned from the post of Interim Chief Executive Officer and as Director of the iCreate subsidiary of Visual Vibe.Com; and
2. Mr. Ivan Carter resigned as Director of the iCreate subsidiaries of Visual Vibe.Com and GetPaid Limited.
With respect to the Company/Corporate Secretary, Mr. Demetrie Adams, his resignation takes effect as at December 31, 2023.
The Board of Directors of iCreate wishes to wholeheartedly thank Messrs. Martin, Carter and Adams for their invaluable service to the Company over the years and wish them all the very best in their future endeavours.

 

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Corporate Movements – July 2024

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Supreme Ventures Limited (SVL) wishes to advise that Mrs. Clair-Ann Kennedy the CEO of Supreme Ventures Services Limited and Ibet SV Ghana resigned effective 30 June 2024.  Mrs Kennedy has been a valuable and respected member of the SVL Group Executive team. SVL thanks her for the hard work and commitment that she has displayed during her tenure with the Group. Mrs Kennedy will be pursuing other interests and personal projects. In the interim period, Ms. Krista-Gaye Fisher SVP Legal, Regulatory and Compliance will assume the responsibilities of CEO for SVSL.

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A Legacy of Leadership: Dr. Marlene Street Forrest and the Future of the Jamaica Stock Exchange

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“As the JSE looks to the future, it will be crucial to find a leader who can match, if not exceed, Dr. Street Forrest’s impressive legacy.”

Introduction
Dr. Marlene Street Forrest, who has led the Jamaica Stock Exchange (JSE) for nearly two decades, is set to retire, leaving behind a legacy of innovation and resilience. Her tenure has been marked by significant achievements and overcoming challenges in a male-dominated field, setting a high bar for her successor.

Accomplishments and Achievements
Dr. Street Forrest’s tenure at the JSE has been transformative. Under her leadership, the JSE has seen a notable increase in market activity, listings, and the introduction of new financial instruments.

She spearheaded the launch of corporate secretarial services to assist smaller companies in maintaining compliance and accurate reporting, which is crucial for their growth and sustainability​​.

In recognition of her outstanding leadership, Dr. Street Forrest received several prestigious awards, including the Order of Distinction in the Rank of Commander (CD) in 2016 and the Afroglobal Excellence Award for Global Impact from Canada the same year​.

Her efforts have not only enhanced the visibility and credibility of the JSE but have also contributed significantly to Jamaica’s economic resilience and development.

Overcoming Challenges
Leading the JSE in a male-dominated industry came with its challenges. Dr. Street Forrest often had to navigate skepticism and bias, proving her competence through relentless hard work and strategic vision.

The global financial crisis and the COVID-19 pandemic posed additional challenges, yet she successfully steered the JSE through these turbulent times by promoting market stability and investor confidence​.

Her focus on digital transformation and enhancing regulatory compliance helped the JSE remain a pivotal player in Jamaica’s economic strategy. She emphasized the importance of high-quality, timely financial information and investor education, which are critical for maintaining market integrity and attracting capital​​.

The Road Ahead: What Her Successor Needs
As the search for Dr. Street Forrest’s successor begins, the JSE requires a leader who can build on her legacy of innovation and resilience. Key characteristics for the next managing director include:

Visionary Leadership: The ability to foresee and adapt to market trends and technological advancements.
Strong Regulatory Knowledge: Ensuring compliance and fostering investor trust through transparent practices.
Commitment to Digital Transformation: Embracing new technologies to enhance market operations and accessibility.
Economic Insight: Understanding market dynamics and economic policies to drive growth and stability.
Collaboration Skills: Building strong relationships with stakeholders, including regulators, investors, and listed companies.

Benchmarking against global stock exchange leaders, the new head of the JSE should embody a blend of strategic foresight, regulatory acumen, and innovative thinking. Leaders like Adena Friedman of Nasdaq and David Schwimmer of the London Stock Exchange exemplify these traits, balancing market growth with robust governance.

Conclusion
Dr. Marlene Street Forrest’s leadership at the JSE has set a high standard, marked by significant achievements and resilience in the face of challenges. Her successor will need to bring a mix of visionary leadership, regulatory knowledge, and a commitment to digital transformation to continue driving the JSE’s growth and success. As the JSE looks to the future, it will be crucial to find a leader who can match, if not exceed, Dr. Street Forrest’s impressive legacy.

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Who Is Roxane De Freitas?

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Early Life and Career Beginnings
Roxane De Freitas has a distinguished career marked by her leadership and strategic roles in major companies. She has served as a pivotal figure in the Caribbean business community, with extensive experience across various sectors. Her early career saw her rising through the ranks in the fast-moving consumer goods (FMCG) industry, which laid the foundation for her expertise in corporate leadership.

Professional Accomplishments
Roxane De Freitas is well-known for her significant contributions to Scotiabank and Massy Stores. She recently retired from the Board of Directors of Scotiabank Trinidad and Tobago, where she played a critical role in steering the bank’s strategies and operations. In her tenure, De Freitas contributed to the bank’s growth and its robust community initiatives through the Scotiabank Foundation, emphasizing the well-being of women and youth in Trinidad and Tobago.

In addition to her banking career, De Freitas has been instrumental at Massy Stores. As CEO of Massy Stores Trinidad, she oversaw the expansion of the chain, including the implementation of innovative self-checkout services, which have been lauded for enhancing customer convenience and operational efficiency. Her leadership during the rollout of these services across multiple locations demonstrates her commitment to modernizing retail operations and improving customer experience.

Roxane De Freitas also has a robust background in the fast-moving consumer goods (FMCG) sector, having held several key positions at Unilever Caribbean Limited. Her roles included Country Manager for Unilever Jamaica and General Manager for Unilever Caribbean, where she oversaw operations in multiple territories across the Caribbean. Her leadership has been marked by strategic initiatives that drove growth, enhanced operational efficiency, and improved market share.

Recent Appointments
On June 6, 2024, Roxane De Freitas was appointed to the Boards of Scotia Group Jamaica Limited and The Bank of Nova Scotia Jamaica Limited. This new role signifies her continued influence in the Caribbean banking sector, where her strategic insights and extensive experience are expected to drive further growth and innovation for Scotiabank in Jamaica.

Industry Impact and Legacy
De Freitas’s impact on the Caribbean business landscape is profound. Her strategic vision and leadership have not only driven financial performance but also fostered community development and corporate responsibility. At Massy Stores, her efforts in promoting sustainable practices and efficient retail technologies have set new benchmarks for the industry.

A Role Model for Future Leaders
Roxane De Freitas’s journey is a testament to the power of dedication and strategic thinking in achieving corporate success. Her career path serves as an inspiration to aspiring leaders, particularly women in business, demonstrating that perseverance and innovation can break barriers and lead to significant achievements in diverse sectors.

As she takes on her new responsibilities with Scotiabank in Jamaica, the business community will undoubtedly be watching her next moves, anticipating further contributions to the growth and development of the Caribbean’s financial and retail sectors.

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Corporate Movements June 2024

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The Board of Directors of Mailpac Group Limited is pleased to announce the appointment of Mr Kamar Palmer and Mrs Sheree Martin as Directors of the Company, effective June 1, 2024. The Board welcomes them to the Mailpac family and looks forward to their invaluable contribution to the Company.

Scotia Group Jamaica Limited is pleased to announce the appointment of Roxane De Freitas to the Boards of Scotia Group Jamaica Limited and The Bank of Nova Scotia Jamaica Limited effective June 6, 2024.

IronRock Insurance Co Ltd (ROC) hereby advises that, effective May 1, 2024, Mr. Richard Fraser has been appointed as an Independent Director and the Company Secretary. He has also been appointed Chairman of the Corporate Governance & Conduct Review Committee and will serve as a member of the Audit and the Nominations & Remuneration Committees.

Eppley Limited has advised that Mr. Raymond Donaldson has been appointed as a director of Eppley Limited with an effective date of June 3, 2024.

Lumber Depot Limited wishes to advise the Jamaica Stock Exchange, its shareholders and stakeholders that the company has added to its management team Mr. Karl Lambert in the capacity of Chief Accountant with effect from May 1, 2024.

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Corporate Movements – May 2024

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GraceKennedy Limited (GK) has announced the resignation of Mrs. Patsy Latchman-Atterbury as Managing Director of GK Capital Management Limited and consequently from the Board of Directors of GK Capital Management Limited, effective May 22, 2024. Mr. Kareem Tomlinson has been appointed as Managing Director of GK Capital Management Limited and as a Director of the Company, effective May 22, 2024. Mr. Tomlinson is a Chartered Financial Analyst with over a decade of experience working in the Jamaican financial sector. He is also the Managing Director of GK Investments Limited.

Stationery & Office Supplies Ltd (SOS) is pleased to announce that at its board meeting held on May 16, 2024, the appointment of Mr. John Hudson as an independent director of the company. Mr. Hudson will join the board of directors as well as be a member of SOS’s remuneration and corporate governance committee’s and will chair the audit committee.

Access Financial Services Limited (AFS) is pleased to announce the appointment of Mr. Johann Heaven as a Non-Executive Non-Independent Director. This following a previous announcement on March 18, 2024, regarding Mrs. Nerisha Davis-Farquharson’s resignation from the Board of Directors,

Key Insurance Company Limited advises that Mr. Adrian McBean has been appointed to the position of Chief Financial Officer effective April 22, 2024. With over 15 years in the financial sector as an accounting and finance professional, Mr. McBean brings a wealth of experience to this role.

Image Plus Consultants Limited (IMAGE) announces the appointment of Dr. Wendy-Gaye Thomas to the post of Chief Operating Officer, effective June 3, 2024. Dr. Thomas brings a wealth of experience and a stellar track record in healthcare management. Dr. Thomas graduated Magna Cum Laude from Universidad Central del Este. In her prior roles, she was responsible for driving profitability by delivering growth in food safety audit services and other medical technical services. Dr. Thomas is an author and speaker on public health issues. Her appointment is expected to enhance the company’s operational capabilities and drive efficiency to deliver stronger net profit margins.

The Management of Radio Jamaica Limited (RJL), the parent company in the RJRGLEANER Communications Group, today advised the Board of directors that the current Chief Financial Officer (CFO), Andrea Messam has opted to proceed on early retirement at the end of December 2024.

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