Tue | Dec 12, 2017

Carreras shareholders approve 10 for one stock split

Published:Wednesday | September 6, 2017 | 5:35 PMNeville Graham

Carreras shareholders on record as at September 21, 2017 will benefit from a 10-for-one stock split.

Shareholders voting at the company’s annual general meeting today approved an August 8 board resolution.

Board chairman, Oliver Holmes, in piloting the resolution, said the company wants to improve the liquidity of Carreras stock so that they can be more readily traded.

Carreras closed at $107.97 at the end of business on the Jamaica Stock Exchange today. This was 12 cents more than the $107.85 close on Tuesday.

The annual general meeting also approved an increase in the company’s authorized share capital. Outstanding shares presently stand at 485.440 million units.

The vote will authorise the company to increase outstanding shares to approximately 4.9 billion.

- neville.graham@gleanerjm.com