Proven To Spend US$12m On Three Acquisitions

Financial services outfit, Proven Investments Limited, will spend up to US$12 million (J$1.08 billion) to acquire three regional financial entities in the short term.

It will finance the acquisitions with equity and debt to be raised in part from a bond placement planned for next month. The placement is expected to raise between J$750 million and J$1 billion.

“Currently, we are working on three additional private equity transactions representing approximately US$12 million of investment,” said Proven Chief Executive Officer Christopher Williams.

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Bunting And Golding Resign From Proven

Two top partners of Proven Investments Limited, who have been assigned Cabinet positions in the new Government, have resigned as members of the management committee, and given up their seats on the board of subsidiary Proven Wealth Limited. Peter Bunting and Mark Golding, who are both politically aligned to the People’s National Party, resigned from Proven on January 6, the…

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PROVEN Shares Go Public

PROVEN Investments Limited is seeking to raise J$1 billion by offering for subscription 200,000,000 cumulative redeemable preference shares at a subscription price of J$5.00 per share. Dividends will be paid quarterly at 8%. More about PROVEN On July 14, 2011, PIL became the first company to list ordinary shares on the Jamaica Stock Exchange denominated in United States dollars Proven…

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