Honey Bun transfers majority holdings into new company

ON December 31 the Jamaica Stock Exchange gave notice that Honey Bun Jamaica Ltd, a bakery business and Junior market company, had transferred 55,151,600 shares or 70 per cent of its collective holding to a related party.

The company subsequently explained that the transaction represented the movement of family-owned shares into a new holding company.

The reason for the move was not explained; however, in a news release, Honey Bun – crediting the response to CEO Michelle Chong – said the company’s ownership remains the same despite the share transfer.

The transfer of 55,151,600 shares was from holdings of individual family members to a company owned by the family, Chong indicated.

Published in the Observer
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