JMMB Group confusion

A check on the Trinidad and Tobago Stock Exchange (TTSE) website and trading data, leads to confusion as to the correct name of the JMMB Group Limited, the incorrect name was still being carried up to Friday in the trading summary, but based on IC Insider’s intervention the TTSE indicates that the error will be corrected.TTSE in a release on Tuesday posted on its website captioned: NOTICE OF APPOINTMENT OF DIRECTORS – JAMAICA MONEY MARKET BROKERS GROUP LIMITED (JMMBGL).The contents of the release includes this: “The Trinidad and Tobago Stock Exchange (TTSE) received notice that pursuant to the Scheme of Arrangement filed with the Companies Office of Jamaica, the following Directors have been appointed to the JMMB Group Limited Board of Directors effective April 13th, 2015”.
The release raises questions as to the correct name of the company that was listed on Monday on three exchanges within the region? The fact that the TSE statement has both names, is strange to say the least. Coming from the exchange one gets the impression that they ought to know the name, so when they head the release with the old name and then add Group to it, one wonders why? The Trinidad Stock Exchange fact sheet of listed companies has the company’s name incorrectly stated as Jamaica Money Market Brokers Group Limited. A check with the Jamaica Stock Exchange show the company correctly listed as JMMB Group Ltd but a release from the JSE when the stock was listed on Monday reports the company as Jamaica Money Market Brokers Group Limited.
The scheme of arrangements puts the matter beyond doubt. According to that document “JMMB Group” means JMMB Group Limited, whose principal office is situated at 6 Haughton Terrace, Kingston 10, Jamaica, a company duly incorporated in Jamaica under the Companies Act 2004. The document goes on further to state that “As a result, the understanding that JMMB has reached with the BOJ is that the combined group will see a new financial holding company being introduced at the pinnacle of the structure. JMMB Group Limited (“JMMB Group”) was therefore formed for this purpose on May 16, 2012, and it is intended that if the Scheme is approved, this company will be the publicly listed ultimate holding company of the combined group. The evidence is clear the correct name is JMMB group Ltd.
IC Insider checked with the Trinidad & Tobago Stock Exchange, and was advised by a representative: Marlon Crew that the error will be corrected by the end of Friday, April 17.