Jamaican Teas Gets Approval for 2-for-1 Stock Split

The Board of Directors of Jamaican Teas Limited received shareholder approval at their Annual General Meeting at the Courtyard Marriott hotel in Kingston last week.

The approval is for a 2 for 1 stock split and an increase in the authorised share capital of the company.

The authorised shares in the company have now been increased to 1-billion units up from 500-million.

And issued shares will move from just over 330 units at the end of September last year to over 670 shares of no par value.

This will be the second time Jamaican Teas has done a stock split, having executed a similar two-for-one split in March last year.

With the market closed for the Easter holidays, the stock is expected to begin trading at the adjusted price of $3.67 today on the Junior Market of the Jamaica Stock Exchange.