1 month ago
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A company connected to Michael Lee-Chin, the Chairman of NCB Financial Group, sold 6.4 million of the company’s shares on September 5 on the Jamaica Stock Exchange.
That’s according to a report published late on Thursday by Guardian Media in Trinidad and Tobago.
The block of NCBFG shares was sold at JM $51 per share, raising JM $326 million. That was equivalent to just over US $2 million.
A week ago, Lee-Chin made a US $2 million payment to note holders of Portland Barbados Limited, in a revised payment arrangement.
He’s reportedly due to make another US $2 million payment today and a final payment in the same amount, by next Friday.
Lee-Chin’s current payment arrangement was put in place after he missed an April 30 deadline on a two year note valued at US $23 million.
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