An article published in the Financial Gleaner of Friday, May 20 indicates that John Jackson, a director and minority shareholder in SSL Venture Capital Jamaica Limited, SSLVC, has objected to the bid price for the shares by MFS Acquisition, claiming it vastly undervalues SSLVC.
That is not a correct statement and at no time have I said the offer undervalues SSLVC. The only official statement of the position of the Board of Directors of SSLVC is contained in the published Directors’ Circular.
Bridgeton Management Services of which I am a majority shareholder, in its private position, indicated its plan to not accept the offer on the grounds that as a small investor the company would opt to sell the shares it owns into the market at some time in the future. A letter to that effect is included as a disclosure in the SSLVC Directors’ Circular.