FHC Investments facing divestment vote

Members of First Heritage Co-operative Credit Union Limited (FHCCU) will vote next Thursday on a potential divestment of FHC Investments Limited, its broker subsidiary, which has been incurring losses since 2022.

This was revealed in the notice to the 14th annual general meeting (AGM) scheduled for September 10 virtually and at AC Hotel Marriott in New Kingston. The special resolution seeks permission to authorise the full divestment, by sale or other lawful disposition, of up to 100 per cent of FHCCU’s ownership and shares in FHC Investments.

The proposed sale of FHC Investments comes after the Jamaica Stock Exchange (JSE) admitted the securities dealer as a member-dealer/broker in July 2021. FHC had its first trade of securities in March 2022.