Having carried out an independent assessment of GraceKennedy proposed $2.01 per share purchase of the remaining shares in Key Insurance Company, the board is recommending that minority shareholders accept the offer.

Last December, GraceKennedy acquired a 15 per cent interest in Key Insurance advising of its intention to make a cash offer to purchase 100 per cent of the issued share capital of Key at $2.01 per share. The offer opened on January 27, 2020, and will close tomorrow, February 17.

In a directors’ circular posted last Friday (February 14) on the website of the Jamaica Stock Exchange, where both Gracekennedy and Key Insurance are listed, the board declared that it is recommending that minority shareholders accept the offer. The directors pointed out that this decision was a unanimous one of the board.

http://www.jamaicaobserver.com/sunday-finance/key-insurance-board-recommends-minority-shareholders-accept-grace-buy-out-offer-indepen_187264