PROVEN Investments Limited (PIL) remains very bullish on Jamaica and continues to demonstrate astute focus on identifying and seizing opportunities to advance one of its investment strategies in Private Equity with a focus on key growth sectors in the Financial Services and the Real Sector. In light of this, PROVEN is pleased to announce its acquisition of shares in the capital of Dream Entertainment Limited.
In its declaration to the Jamaica Stock Exchange, PROVEN Investments Limited noted that its total equity holdings in Dream Entertainment Ltd now stands at 2,500 units which represents 20% of the participating voting shares in Dream Entertainment Ltd.
The purpose of the acquisition is to generate dividend income and Dream Entertainment Ltd will now be characterized as an associated company of PROVEN Investments Limited. Additionally Christopher Yeung, Head of Treasury and Corporate Finance is the PROVEN Director appointed to the Board of Dream Entertainment Limited.
Dream Entertainment Limited has over the years shown the ability to provide enviable entertainment products that cater to a growing audience that is primarily beyond the Jamaican shores. Having completed its due diligence on Dream; this acquisition not only aligns with PROVEN’s core Investment Strategy within the Real Sector but also its risk to reward objectives in achieving its financial goals.
In signing the Agreement Scott Dunn, Managing Director, Dream Entertainment Limited expressed his team’s commitment to continued performance, he highlighted “Having a partner such as PROVEN shows the stern nature of our business; and solidifies our team’s efforts in ensuring that we not only remain relevant within the industry but viable in our business’ performance. We look forward to this partnership.”
Christopher Williams, President & CEO of PROVEN Management Limited, the management company for PROVEN Investments Limited; stated – “Our focus remains precise and where we see performance and opportunities that align with our financial goals, we are sure to explore and undertake them. We have seen the impact Dream, through its entertainment brands, has had on our economy; and we are proponents of the multiplier effects the entertainment business has brought to tourism and the Jamaican economy. This is another of our investments that supports a diversified revenue stream and we look forward to realizing the success of this enterprising partnership.”
With 8 years of operation, PROVEN Investments Limited’s main investment strategies are in – Private Equity; Tradable Securities and Real Estate. Currently our diversified private equity holdings are:
PROVEN Wealth Limited; PROVEN Fund Management Limited; ACCESS Financial Services; BOSLIL Bank Limited; PROVEN REIT and International Financial Planning Limited (IFP)
The most recent acquisition has been a major shareholding in JMMB Group Ltd. making them an associated company of PROVEN Investments Limited.
Dream Entertainment Limited is incorporated under the laws of Jamaica and is an event organizer, primarily in the business of conceptualizing, owning and producing large events. The signature/main events and successes are through: Dream Weekend, Xodus Carnival, Dream Weekend Cruise and The Cooler Weekend.