We lost our trading license and are no longer allowed to trade nor conduct business in or from Grenada. New regulations require offshore brokerages to deposit a large amount of money into an escrow account to maintain their license. We were not in a position to do this due to unfavorable market conditions and a number of other factors.
You will need to transfer your holdings with Gateway International to Jacmel Management or any other brokerage firm of your choice. There’s no time limit for this, but please note that you will not be able to sell your holdings until it is transferred to a different brokerage. Appropriate documents and forms will be sent separately.
Clients holding private placements and IPO’s who are in possession of their share-certificates are not required to transfer their holdings. These clients will be informed directly by the companies they invested into about any news and developments. Clients already in possession of their share-certificates will be able to sell these locally through any bank or brokerage firm dealing with American stocks; once these companies go public.
If you haven’t received your share certificates please email Jacmel Management to ir@jacmelmanagement.com for any other inquires please email info@jacmelmanagement.com
Gateway International
Daniel Simons
Managing Director