iCreate Limited, in response to media releases by Sagicor that it is released from receivership wishes to clarify that at all times it challenged the Sagicor Investment’s right to call the bond as well as the receivership.  Sagicor is aware that the settlement was made subject to these challenges. We have arrived at this position after a legal review of the appropriate documentation and numerous communication between our Attorneys Henlin Gibson Henlin and the Attorneys representing Sagicor Investments Jamaica Limited and the purported receiver.

Background:

iCreate Limited has enjoyed a longstanding and mutually beneficial relationship with Sagicor Investments. As pioneers in our field, Sagicor was one of the first institutional investors and also led our IPO, demonstrating their confidence in our vision during our nascent entrepreneurial days. Over the years, open dialogue and efficient management of investment obligations characterized our association – especially with Sagicor being a top 5 shareholder in our company.

However, in recent times, a seismic shift occurred in our dealings with Sagicor, marked by a sequence of events culminating in the decision by Sagicor Investments Jamaica Limited to place iCreate in Receivership.

The sudden receivership has raised significant concerns within iCreate Limited, particularly regarding the motive behind this drastic action as prior to the purported appointment of Ken Tomlinson as Receiver, best efforts were made by me personally, to engage Sagicor, which were ignored.

Next Steps:

1. It is important to note that once we got notice of the purported receivership we immediately sought legal representation and engaged the services of Henlin Gibson Henlin (HGH), led by Kings Counsel, Georgia Gibson Henlin.
2. iCreate contends that Sagicor Investments Jamaica Limited's Appointment of Receivership is invalid, a stance clearly communicated to Sagicor by our legal team. A letter was sent to the Receivers to halt their actions against iCreate Limited.
3. Contrary to public perception, iCreate has continued to manage its operations independently since the Notice of Appointment of Receivership. The company remained under our control, operating on a normal day-to-day basis.
4. After our legal argument was outlined by our Attorneys to Sagicor’s Attorneys, a Deed of Settlement, Release & Indemnity was subsequently sent by Sagicor's legal representative to our legal team. However, after careful consideration of the terms outlined, we rejected the agreement, opting instead to pay out the bond in full, without settlement.

Legal Action:

iCreate Limited, authorized by its Board of Directors, is set to file a lawsuit against Sagicor Investments Jamaica Limited in respect of the illegal and invalid appointment has resulted in severe damages to iCreate, its subsidiaries, its Directors, and the continuity of our business ventures. As a result, we intend to seek damages in the Court of Law to rectify the financial and reputational repercussions incurred.

Legal documents, meticulously drafted by our Legal Counsel, Georgia Gibson Henlin, and the HGH team, are currently being finalized for filing in the Supreme Court of Jamaica.

Conclusion:

Despite outstanding amounts, iCreate Limited has demonstrated an unwavering commitment to open communication with Sagicor throughout the challenging period, including the global pandemic. Our dedication to transparency, justice, and upholding our rights remains steadfast.

We want to thank our shareholders for their patience as we chart our way into becoming a digital and creative group of companies along with other strategies to grow.

Minister of Local Government and Rural Development, Desmond McKenzie, has announced that Local Government Elections are to be held on February 26.

Nomination Day will be February 8.

In an address at Montego Bay Convention Centre in St James on Thursday, the McKenzie said "the time has come" for our citizens to choose the next set of councillors to represent them at the local level.

"We of the Jamaica Labour Party (JLP) are confident that the majority of Jamaicans will continue to believe in the policies and the programmes of this great Jamaica Labour Party," declared McKenzie.

He said under the Andrew Holness-led Administration, local Government has been transformed.

"Nobody can question the competence, the commitment of this Andrew Holness-led Government in executing policies and programmes using local government as that vehicle of expression," added McKenzie.

Regardless of their political persuasions, McKenzie said all councillors island-wide have benefited from resources to assist citizens in relation to back-to-school for their children, or through funeral grants and building grants.

"What a Government cares for local government!" he suggested.

Local Government has also played a critical role in productivity, peace and prosperity in the nation, the minister stated, pointing to the country's municipal corporations raking in more than $1.5 trillion from approved building applications since 2016.

"I'm not here to tell you that we have accomplished all we want (in local government), but they (the Opposition People's National Party) cannot go on any platform, (or) on any debating stage, to challenge the performance of the Jamaica Labour Party when it comes on to local government," stated McKenzie.

Meanwhile, Prime Minister Andrew Holness said councillor-candidates have enough achievements to bring to the electorate as they seek their votes in the campaign.

"As you prepare to face an election, it is important to know that you are part of a bigger picture; a pixel in a beautiful tapestry that is going to be created for Jamaica. You are an important part of it," he told the party's municipal candidates.

He reiterated that his mission is still to move Jamaicans from poverty to prosperity, and that partnership for prosperity must incorporate local government, as well as stakeholders in the private sector and the church.

2023 was a record-breaking year for Lotto and Super Lotto players!

Jamaica College on Monday morning January 29, 2024 was a scene of great jubilation as the school celebrated its victory over Wolmers Boys School on Friday January 26, 2024 to become the ISSA Under-19 Urban Area Basketball Champions.

Medical Disposables & Supplies Limited held its 5th Annual Mpowered Continuing Education Seminar for Pharmacists on January 24th and 28th, under the theme “Fearless”.

Marking her first appearance on the Dream Weekend stage, Jada Kingdom is the first female act to be booked for the festival’s 15th anniversary celebrations on August 2-6, 2024.

This week's featured overall development as Newsmaker of the Week is the firestorm arising from Thursday's decision by a High Court judge to bar the media and members of the public from viewing proceedings relative to the first appearance of former Member of Parliament (MP) for Western St Mary, Jolyan Silvera, in the Supreme Court in downtown Kingston.

In the refined ambiance of Tropical Elegance on Tuesday, December 12, 2023, the Nurses Association unveiled a portrait of gratitude and admiration at their luncheon, graciously supported by the Mayberry Investments Foundation.

GenXS Carnival, Jamaica's Ultra-Premium Band, has partnered with McKayla Financial Services, a subsidiary of Supreme Ventures Limited (SVL), to offer masqueraders convenient micro-loans. This initiative aims to make the GenXS Carnival experience accessible to a wider audience, allowing enthusiasts to embrace the celebration without financial constraints.

Masqueraders can access a McKayla microloan with flexible payment options to secure any of three GenXS packages tailored to suit various preferences and budgets.

The available packages are:

1. First Tier - Costume Only
2. Second Tier - Costume and Glam Hub Package
3. Third Tier - Costume, Glam Hub Package, and All GenXS Parties (Immortals J'ouvert, GenXS Sunset, Ocean X, and GenXS Street Jam)
   
   

For loans under US$2000, masqueraders can enjoy a 12-month unsecured loan repayment offer, providing a hassle-free commitment option. Secured loans are also available for amounts exceeding this threshold.

Ajene Green, Director at GenXS, expressed the band's commitment to accessibility, stating, "Our aim is to ensure that every individual who desires to play mas with GenXS can do so without financial burdens. This partnership with McKayla Financial simplifies the process, allowing masqueraders to enjoy the GenXS Carnival experience with ease."

Kamal Powell, Head of Marketing at  SVL , highlighted the significance of the initiative, saying, "We understand the financial considerations people face during the Christmas season. Our collaboration with GenXS provides an opportunity for masqueraders to secure their costumes with a hassle-free commitment, giving them the freedom to prioritize other seasonal expenses."

The micro-loan program comes at a time when many individuals may want to prioritize Christmas spending, and GenXS Carnival and McKayla Financial aim to make the commitment to Carnival hassle-free. This initiative allows masqueraders to enjoy their Christmas festivities while securing their place in the upcoming GenXS Carnival celebration.

About GenXS Carnival: GenXS Carnival, established in 2022, is Jamaica's premier Ultra-Premium Band. With a commitment to providing high-quality Carnival experiences, GenXS has quickly become a leader in the Carnival industry. The band offers a unique and immersive Carnival journey, redefining the standards of celebration in Jamaica.

‘Tis the season for spreading joy and love, and Xodus Carnival Company has joined hands and heart with the Food for the Poor Angels of Hope Toy Drive, to bring Christmas cheer to hundreds of children in state care.