Supreme Court approves Scotia Group privatisation deal; minority shareholders to receive $75 per share

October 31, 2026

The Supreme Court has sanctioned the scheme of arrangement involving Scotia Group Jamaica Limited, making effective the privatisation transaction involving its majority shareholder, Scotiabank Caribbean Holdings Limited.

The court order was filed yesterday.

Under the arrangement, minority shareholders will receive J$75 per stock unit, with payments to be dispatched within ten business days.

Shareholders who submitted valid shareholder forms by the October 30 deadline will be paid in United States dollars, while others will receive Jamaican dollars.

At an October 7 shareholder meeting, 80.16 per cent of the minority shareholders voted and supported the proposal, representing 97.70 per cent of the stock units.

Scotiabank says the court’s decision reaffirms its long-term commitment to Jamaica, while Scotia Group President Audrey Tugwell Henry says the change in ownership will not affect the group’s commitment to its clients, employees and communities.

Following completion of the transaction, Scotiabank Caribbean Holdings expects to apply to have Scotia Group delisted from the Jamaica Stock Exchange.