Scotia Group to hold shareholder meetings in October as delisting plan advances

Scotia Group Jamaica Limited (SGJ) received court approval to convene shareholder meetings in October, which could pave the way for the delisting of the company from the Jamaica Stock Exchange.
Justice David Batts issued a formal order on July 15 allowing Scotia to proceed with the meetings, which will seek shareholder approval for the proposed scheme. The meeting of Scotiabank Caribbean Holdings, the parent of SGJ, is scheduled for October 7 at the AC Hotel by Marriott on Lady Musgrave Road in Kingston.
Under the scheme, Scotiabank Caribbean Holdings would repurchase all of the outstanding ordinary stock units in Scotia Group Jamaica held by minority shareholders, effectively taking the company private. Scotia Group Jamaica, which operates the local subsidiary of Scotiabank and serves as a major financial services player in Jamaica, currently trades on the JSE under the ticker SGJ.
SGJ is one of the largest listed companies on the exchange, with a market capitalisation of approximately $178 billion. The company reported net profit of $5.96 billion for its most recent quarter ended April 2026, up 19 per cent year over year, and $10.08 billion for the six-month period. Its removal from the JSE would represent the loss of a stable dividend-paying stock; the board declared a second interim dividend of 45 cents per stock unit in June.

business@gleanerjm.com