KINGSTON, JAMAICA – Amid ongoing legal proceedings tied to collateral shares involving VM Investments Limited, the controlling shareholder group of Kintyre Holdings (JA) Limited has publicly clarified that its proposed international corporate restructuring and pursuit of a New York Stock Exchange (NYSE) listing remain fully on track.
In an official statement released on April 2, the group emphasized that it is not a named party to any litigation against VM Investments, even though the current dispute centers on share pledges held by entities connected to the controlling shareholder bloc. The proposed restructuring, the group explained, is limited exclusively to rearranging ownership stakes within the controlling group, and does not alter the operational or corporate structure of Kintyre Holdings (JA) Limited itself.
To date, the shareholder group has not provided clear guidance on how existing debt obligations tied to the pledged shares will be addressed as part of the proposed reorganization. The statement explicitly carved out VM Investments’ holdings from the restructuring plan, noting that any shares held by VM are bound by separate existing contractual arrangements, outstanding security charges, and the ongoing court dispute – none of which are included in the new international holding structure or the reorganization effort.
The clarification comes as Kintyre Holdings grapples with a massive $504.58 million outstanding debt, secured by share pledges that were valued far higher when the loan was originated. Currently, Kintyre’s stock trades at roughly $0.35 per share, a steep drop from the valuation that backed the collateral. This sharp decline has created a major gap between the current market value of the pledged shares and the outstanding loan balance, leaving market observers uncertain how much of the total debt will ultimately be recoverable by creditors.
The shareholder group said the clarification was necessary after recent public comments connected to the legal dispute created widespread confusion about the group’s intentions and role in the process. It added that legal counsel has already been engaged to review recent statements and evaluate potential legal action against parties spreading misleading information.
Despite the ongoing uncertainty surrounding the share dispute, the controlling bloc reaffirmed its long-term commitment to building a global investment holding firm with a operational footprint across the Caribbean and Latin America. To back up its confidence in the business, the group pointed to strong recent operating results: the company now holds total assets in excess of $15 million, and posted record-breaking profitability in 2025, marking a solid upward growth trajectory. The group also made clear it will aggressively push back against any attempts to disrupt or mischaracterize its restructuring and listing plans.