Fri | Nov 24, 2017

New directors appointed to Supreme Ventures board

Published:Wednesday | November 8, 2017 | 3:38 PM

Peter Chin has resigned from the board of gaming and lottery outfit Supreme Ventures Limited (SVL) while two new directors, Peter McConnell and W. David McConnell were appointed to the board following a meeting on Tuesday, the company said in a release.

Chin joined the board of the gaming and lottery company in June 2013 and most recently served as chairman of its audit committee.

Peter McConnell is the Managing Director of Trade Winds Citrus Limited, as well as chairman of the Linstead Public Hospital and the Jamaica Citrus Protection Agency.

W. David McConnell is co-Managing Director and co-founder of Select Brands Limited, a leading wines and spirits company in Jamaica. He sits on several Boards, including those of Scotia Investments Jamaica Limited and IronRock Insurance Limited.

Supreme Ventures’ deputy chairman Ian Levy was appointed acting chairman in the wake of former chairman Paul Hoo’s resignation last weekend. He will act in that capacity until a chairman is appointed.

Last month, Mayberry Investments Limited called for an emergency general meeting to replace seven SVL directors, including Hoo.

However, having subsequently gained three seats on the 12-member board, the brokerage house said it is reviewing its demand for the meeting.

Mayberry had outlined its intention to appoint seven directors to replace Hoo and six others, SVL said in a release in response to recent reports of a $2.9 billion block share transaction buy out of the company by St. Lucia-based Zodiac International Investments and Holdings Limited and Mayberry Investments.

- business@gleanerjm.com