JSE approves Cable & Wireless Jamaica delisting

9 Apr 2018

The Jamaica Stock Exchange (JSE) has approved a request by Cable & Wireless Jamaica (CWJ) to delist its stock on 11 April. The telco – which trades as Flow Jamaica – offered to purchase some three billion stock units back on 28 December 2017, at a price of JMD1.45 (USD0.01) per unit.

As a result of the block transfer of 1.6 billion units on 21 March, CWC Cala Holdings Limited owned 91.7% of the ordinary stock issued by CWJ, and was able to ‘exercise its rights under the Companies Act of Jamaica to compulsorily acquire the shares of all other shareholders, including those who have expressly dissented or have failed to respond to this Offer’.

Cable & Wireless Communications (CWC) – now part of Liberty Latin America (LLA) – previously owned 82% of the Jamaican unit, alongside its affiliate Kelfenora Limited.