New power players at Elite

THE mystery surrounding the recent shake-up in ownership at Elite Diagnostic Limited has been partly cleared, with two St Lucia-registered companies emerging as its largest shareholders following weeks of heavy trading that raised questions about a possible takeover of the Junior Market-listed company.

Resource Assets Limited (RAL) and Navy Inc. now hold 49.80 per cent and 20.96 per cent, respectively, of Elite’s issued ordinary shares, according to a disclosure issued on Monday by the company’s secretary, Cube Corporate Support Limited. Together, the two companies account for 70.76 per cent of Elite’s issued shares, although neither has disclosed any arrangement to exercise control jointly.

RAL has been linked to Jamaican businessman and investor Donovan Lewis, whose investment interests extend across several companies listed on the Jamaica Stock Exchange. However, the latest disclosure does not independently identify Lewis as RAL’s beneficial owner.