600 to 1 stock split for Palace

Palace Amusement Company advised that the Board of directors will recommend to shareholders at their upcoming Annual General Meeting to be held on January 24, 2023, that the existing shares be split into 600 units for each currently issued and that the authorised share capital of the Company be increased from 1,500,000 shares to an Unlimited number of shares.

Palace Amusement is recommending 600 to one stock split.

If the resolution if approved at the meeting will take effect from the close of business on February 28, 2023, resulting in the total issued share capital of the company being increased from 1,437,028 ordinary shares to 862,216,800 ordinary shares.
The shares were last traded on Friday at $1,179 each on the Main Market of the Jamaica Stock Exchange but jumped nearly 20 percent in Wednesday’s trading session to $1,400, leading to a suspension in trading in the stock. The move will be welcomed by many of the company’s shareholders some of whom have been clamouring for the splitting of the stock for some time and will result in greater liquidity for the stock.

Palace considering split stock

Palace Amusement Company is set to split the stock that last traded at $620 per share on Monday, with a range of 620 to $1,150 for 2022.
The company informed the Jamaica Stock Exchange that the Directors proposed to meet on Tuesday, December 20, 2022, and will be discussing the possibility of a stock split. A split is almost a certainty, with the company having borrowed over $700 million, the opportunity exists to raise fresh capital by way of an additional public issue of shares to pay down the debt. Splitting the stock to make them more attractive to retail investors would be a logical step.
To achieve an attractive price and create wide-scale public interest would require a split in the order of 100 to 200 to one of the existing issued shares and would raise the issued number of shares to between 250 to 300 million units.
Other companies talking about stock splits that could come in 2023 are Medical Disposables that could come with a stock split and a rights issue of more shares to use to fund expansion.

Palace jumps $800 to a record $2,900.

Stationery and Office Supplies informed shareholders at the recently held Annual General Meeting that the directors have been looking but currently the liquidy of the stock does warrant one just yet.
Others that should give serious consideration to splitting their stocks are Access Financial Services, with the stock trading over $20, Dolphin Cove priced in double digits, Barita Investments, Cargo Handlers, Honey Bun, ISP Finance, Knutsford Express and Main Event.

The Show Goes On at Palace

After unprecedented closure of nearly four months, Jamaica’s sole nationwide cinema operators, Palace Amusement reopens its cinemas in Kingston and Montego Bay today with Half of Specials at the Early Show and on Thursday at the Evening Show.
Due to the current curfew, Early Shows will now start at approximately 4:45 pm and Evening Shows at 7:45 pm,
The Company has been granted a provisional 14-day period to resume operations by government, with mandatory health requirements to mitigate the spread of COVID-19.
Marketing Manager, Melanie Graham says Palace Amusement welcomes the opportunity to reopen after a painful but necessary closure. Palace is ready with a new operational model designed for the safety of its patrons and staff.
The Company will sell approximately 60 percent of capacity, to maintain safe social distancing for patrons seated in its auditoriums. Patrons will be required to wear masks and observe social distancing in queues at the box office and concession. A maximum of four persons from the same household will be able to sit together as a group.  Individual patrons or groups, will be separated by a gap of two seats, among other safety measures as stipulated by the authorities. Sanitisation stations will be set up at convenient points throughout the cinemas and cleaning and sanitisation will be ramped up between shows to ensure a safe and relaxed atmosphere for all. The company stated.
Movies Opening Today My Spy– Breaking all the Rules  with Jamaica’s Parisa Fitz-Henley playing Kate, a single mother to her nine-year-old daughter, Sophie (Chloe Coleman). My Spy is an action-comedy directed by Peter Sega. I Still Believe – Hope in midst of tragedy. From the makers of I Can Only Imagine comes the true life story of Christian music mega star Jeremy Camp and his remarkable journey of love and loss that proves that faith tested is the only faith worth sharing. strong>I Still Believe is a 2020 American Christian musical romantic drama directed by the Erwin Brothers and starring KJ Apa, Britt Robertson, Shania Twain, Melissa Roxburgh, and Gary Sinise and Bloodshot and Bad Boys for Life.

Palace Amusement closes cinemas

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In the wake of COVID 19 in Jamaica and recent reports of community spread, the management of Palace Amusement Company has taken the decision to close its four cinemas – Carib 5 and Palace Cineplex in Kingston, Sunshine Palace in Portmore and Palace Multiplex in Montego Bay – until further notice.

Carib Cinema, the flagship for Palace Amusement.

This on the heels of increased sanitization measures rolled by the Company this week to help minimize threats to valued patrons and its staff alike.
Marketing Manager, Melanie Graham says that Palace Amusement is now in unchartered territory with the uncertainties of this global pandemic. “We have been watching developments closely and staying tuned to local advisories on the virus since the news of COVID 19 broke earlier this week”, she said. “This has been a challenging week but we have made the difficult decision to close in the best interest of patrons and our employees alike. We will certainly be hard hit on many levels and at this time we are unable to project when we will resume”.
Globally the movie industry is undergoing a sharp downturn due to COVID 19, as producers and film companies continue to pull their pictures.
Among blockbusters which have been rescheduled, are the highly anticipated Fast and Furious 9 now pushed back one year to April 2021, No Time to Die, the new James Bond movie, now set be released in November and Disney’s Mulan and New Mutants which are delayed without any new release dates attached.
The fallout has also hit Alternative Content now shown exclusively at Palace Cineplex, with the Met Opera’s recent announcement of the cancellation of all performances through March 31.
“Palace Amusement wishes to extend heartfelt sympathy to all persons and families affected by COVID 19. We all have to do our part to ensure that we get through this difficult period in the best way possible.” Graham concluded.

Seasons goodies from Palace

Oscar Isaac, John Boyega, and Daisy Ridley in Star Wars: Episode IX – The Rise of Skywalker.

Palace Amusement announces special offerings for patrons at all of its four cinema locations for this Weekend and on Christmas Eve.
Palace is also offering Half Off Specials at all locations, for early and late shows, on Tuesday, December 24, with the exception of the movie Black Christmas.
Patrons at Sunshine Palace will enjoy late movies at approximately 11 pm this Saturday, December 21, Boxing Day, Thursday, December 26 and Saturday, December 28.
Black Christmas – A fight to the finish|Hawthorne College is quieting down for the holidays. One by one, sorority girls on campus are being killed by an unknown stalker. But the killer is about to discover that this generation’s young women aren’t willing to become hapless victims as they mount a fight to the finish.
Black Christmas is an American slasher film directed by Sophia Takal and written by Takal and April Wolfe. The film stars Imogen Poots, Aleyse Shannon, Lily Donoghue, Brittany O’Grady, Caleb Eberhardt, and Cary Elwes.
Star Wars: The Rise of Skywalker – The final chapter will open in Digital 3D at all Palace cinemas on Friday.

A seen from Black Christmas.

The surviving Resistance faces the First Order once more in the final chapter of the Skywalker saga. Star Wars: The Rise of Skywalker is an American epic space opera film produced, co-written, and directed by J. J. Abrams. It will be the third installment of the Star Wars sequel trilogy, following The Force Awakens(2015) and The Last Jedi (2017), and the final episode of the nine-part “Skywalker saga”.  The film’s ensemble cast includes Carrie Fisher, Mark Hamill, Academy Award® winner Adam Driver, Daisy Ridley, John Boyega, Oscar Isaac Anthony, DanielsNaomi AckieDomhnall Gleeson, Academy Award® nominee Richard E. Grant, Academy Award® winner Lupita Nyong’o, Keri Russell, Joonas Suotamo, Kelly Marie Tran, Ian McDiarmid and Billy Dee Williams.

Terminator makes way for Doctor Sleep

Ewan Gordon McGregor starring in Doctor Sleep

The legendary, Terminator came to Palace Amusements’ cinema houses just over a week ago Friday with guns blazing and opening in 8 showings at the start but jumping to thirteen per day the next day, until Tuesday.
The popular series dropped to back to eight shows as of Wednesday, but by Friday the movie was in just three houses for four shows per day.
Doctor Sleep starring Rebecca Ferguson and Ewan McGregor takes over the lead position on Friday, with eight showings per day in all cinemas.
On Wednesday, Harriet entered the Jamaican cinemas with four shows per day. Motherless Brooklyn started on Wednesday with four shows daily and is up to five as of Friday and Countd Wn opened on the same day with three showings.
Black and Blue starring Naomie Harris and Tyrese Gibson, opening with seven daily shows in all cinemas on Wednesday, October 23, continued with 6 on Wednesday, October 30. On Friday, November 2, it fell to five showings, and is back to six shows in three cinemas on Wednesday last and fell to three shows as of Friday.
Gemini Man now in its fifth week at the cinemas, is now down to just two shows per day.  with Angelina Jolie is having just one regular showing and two early shows at Cineplex and Sunshine Palace, in the 2-2:30 pm time slot.

Terminator blazes to 13 shows daily

The legendary, Terminator in which Sarah Connor and a hybrid cyborg human must protect a young girl from a newly modified liquid Terminator from the future came to Palace Amusements’ four cinema houses on Friday with guns blazing.
Opening on Friday in all the four cinemas with two showings per day for a total of eight, the popular movie has since jumped to thirteen per day on Saturday with the recently opened Sunshine Palace having four per day. Schedules for Wednesday were not available but the odds favour the popular actioned packed movie continuing to dominate the screens well beyond this week. Based on recent popular movies, the hike in showings suggest that Terminator will last for about 6 weeks, taking it well into December when the popular Star Wars series come to town, with The Rise of Skywalker in mid-December.
This is only the second time since the Will Smith starring Gemini Man debuted on October 9 that a movie opened with 8 shows daily. Only Fast and Furious that started showing in July had more than 13 showings per day with opening with 15 and then moving to 17 in August. Gemini Man now in its fourth week is down to five shows per day and is one of the movies that have made space for this week’s leading movie. Also making way is Maleficent Mistress of Evil with Angelina Jolie that is now down to just three regular showings from six on Wednesday and the long-running Jokers that is down from two per day to just one starting Friday. Maleficent Mistress of Evil also has two early shows in the 2-2:30 pm time slot.

Gemini Man still holding the audience for 4 weeks

New at the movies last week were Black and Blue starring Naomie Harris and Tyrese Gibson, opening with seven daily shows in all cinemas and continues with 6 on Wednesday but fell to five showings from Friday to Tuesday this week.
Continuing with four daily shows in all cinemas are Downton Abbey the continuing story of the Crawley family, wealthy owners of a large estate in the English countryside in the early 20th century, on Saturday the movie is now down to three showings in regular slot but on Sunday there was a special early show at Cineplex.  Mary, the tale of a family looking to start a charter-boat business, buying a ship that holds terrifying secrets once out on isolated waters opened on Wednesday with four shows but that gave way to the increased demand for Terminator on Saturday.
On Wednesday Harriet enters the Jamaican cinemas as the sole newcomer. Based on the story of iconic freedom fighter Harriet Tubman, ‘Harriet’ follows Tubman (Cynthia Erivo) on her escape from slavery and subsequent missions to free dozens of slaves through the Underground Railroad in the face of growing pre-Civil War adversity.

Gemini Man tapering off

Gemini Man starring Will Smith continues to pull in patrons at Palace Amusements’ four cinema houses this week, with 8 shows daily until Thursday, tapering off to 5 starting Friday.
The movie that also features Mary Elizabeth Winstead is enjoying its fourth week in all cinema houses twice per day but will drop to 5 showings per day commencing Friday this week. Maleficent Mistress of Evil with Angelina Jolie which opened on Friday, October 18 with 4 shows in all cinemas and was up to 7 showings last week Wednesday, is now down to 6 and will decrease on Friday to just three. Jokers which has had great success overseas started with 8 shows on October 4 and declined to 5 from October 9 to October 16 but was down to just 2 daily showings last week and continues with two shows on Wednesday and one show this Friday.
New at the movies last week were Black and Blue starring Naomie Harris and Tyrese Gibson, opening with seven daily shows in all cinemas and continuing with 6 on Wednesday but will be back to seven showings on Friday. The Informer featuring Joel Kinnaman, Rosamund Pike and Clive Owen that opened last week with six daily showings in 3 cinemas ended after just one week.
Joining the Palace Amusement line up on Wednesday, with 4 shows per day in the four cinemas houses, are – Downton Abbey the continuing story of the Crawley family, wealthy owners of a large estate in the English countryside in the early 20th century, and Mary, the tale of a family looking to start a charter-boat business, buying a ship that holds terrifying secrets once out on isolated waters.
The legendary, Terminator in which Sarah Connor and a hybrid cyborg human must protect a young girl from a newly modified liquid Terminator from the future opens on Friday with two shows per day in each cinema.

Fast & Furious top summer movie

Fast & Furious Presents Hobbs & Shaw starring Dwyane Johnson, Jason Statham and Idris Elba was the top-performing movie at Palace Amusement cinema circuit in Kingston, Portmore and Montego Bay from July to October according to data extracted by IC Insider from weekly movie listings and confirmed by Palace’s Managing director Douglas Graham.
Fast & Furious started showings on July 3 for 15 times per day and climbed to 17 the following week and moved to 12 on August 7. The movie totaled 73 showings ending on October 4th with just one showing. The Lion King featuring the voices of James Earl Jones and Beyonce, had 58 showings for the number two spot,  followed by The Hustlers with 34 showings and Angel Has Fallen with 31. Together, these top movies accounted for 216 showings or 58 percent of regular shows during the period that includes the new Portmore cinema, Sunshine Palace that opened at the end of July. Lion King ran non-stop to the week starting September 3 with 5 shows, had a break and returned with 2 shows on the week ending September 28.
Managing Director of Palace Amusement, Douglas Graham says the performance of Fast and Furious was expected because “Jamaicans love movies with motor cars”.  He explained that the Fast and Furious series tends to do better in Jamaica than anywhere else relatively speaking. Popular British actor and DJ Idris Elba, one of the leads in the film was also a big drawing card, as Jamaicans positively identify with the high-grossing star, a relatable and renowned black man, who has visited, filmed and partied in the island on many occasions.

Recliners box seats exclusively for cinema 4.

Graham says he was also pleased with The Lion King, a musical produced by Walt Disney Pictures and a computer-animated remake of Disney’s 1994 traditionally animated film of the same name. Just in time for summer, the movie was a big hit with families driven no doubt by the timeless tale and the star-studded cast of voices.
According to Graham, Sunshine Palace did well in August- “We have seen what it can do. However, the State of Emergency is problematic for movie-goers in the area as that audience are late movies patronisers. We had the same problem in Montego Bay but they overcame it, we hope this will happen in Portmore as well”.
The current crop of movies includes Gemini Man starring Will Smith having three weeks in all cinema houses twice per day for 8 shows daily, graham feels that this will continue for another week from next week Wednesday. Maleficent Mistress of Evil with Angelina Jolie opened of Friday, October 18 with 4 shows in all cinemas and is now up to 7 on Wednesday. Jokers started with 8 shows on October 4 and declined to 5 from October 9 to October 16 but is now having just 2 daily showings at the Carib. Rambo started on September 28 with 7 shows for two weeks then was down to 5 and just 2 for the week commencing October 16 and is now ended, leaving Maleficent Mistress of Evil that started last week Friday, Gemini Man and Jokers as the only carryovers.
New at the movies this week are Black and Blue starring Naomie Harris and Tyrese Gibson, opening with seven daily shows in all cinemas and The Informer featuring Joel Kinnaman, Rosamund Pike and Clive Owen with six daily showings in 3 cinemas.


Once Upon a Time in Hollywood– The Golden Age

Leonardo DiCaprio tries to achieve fame and success in Once Upon a Time in Hollywood.

A faded television actor and his stunt double strive to achieve fame and success in the film industry during the final years of Hollywood’s Golden Age in 1969 Los Angeles.
Once Upon a Time in Hollywood is a comedy-drama written and directed by Academy Award® winner Quentin Tarantino. The film stars Academy Award® winners Leonardo DiCaprio, Brad Pitt, and Al Pacino,  Academy Award® nominees Margot Robbie and Bruce Dern, alongside Emile Hirsch, Margaret Qualley, Timothy Olyphant, Austin Butler and Dakota Fanning.
The Art of Racing in the Rain– Navigating the journey of life
Through his bond with his owner, aspiring Formula One race car driver Denny, golden retriever Enzo learns that the techniques needed on the race track can also be used to successfully navigate the journey of life.

Cats is a Chinese animated film directed by Gary Wong and produced by Viva Pictures Release.

The Art of Racing in the Rain is a comedy-drama directed by Simon Curtis and written by Mark Bomback, based on the 2008 novel of the same name by author Garth Stein. The film stars Milo Ventimiglia (NCB’s This is Us), Amanda Seyfried (Mean Girls/Mama Mia!) and Academy Award® winner Kevin Costner as the voice of Enzo.
Cats – Escape to Paradise
A cat named Blanket has long been living in a high-rise apartment in the city with his son, Cape.

A golden retriever learns from his owner Milo Ventimiglia The Art of Racing in the Rain.

One day, curious about the outside world, Cape decides to leave home and embarks on an adventure to find the legendary cat’s paradise. To find his son, Blanket must overcome his fear and reconcile with his past, with the help of a female Macaw.
These movies are now featured at Palace Amusement Company’s cinemas in Kingston, Montego Bay and now at their newest movie house in Portmore, the Sunshine Palace.