Lawrence Nicholson Appointed New TVJ Chairman. Shareholders Yet To Be Advised

News broke this afternoon that TVJ has appointed a new chairman and RJR has a new board member. A part of the release from RJR reads;

Dr. Lawrence Nicholson has been appointed Chairman of the Board of Television Jamaica Limited.

He’s also been appointed to the Board of Directors of Radio Jamaica Limited.

The appointments are effective Friday, September 20.

Congrats to Dr. Nicholson. I did a course with him once, so I know that he’s a very diligent and meticulous person. He’s also hands on, which is good for the leadership of a board.

However I was very shocked to see his picture appear on my TV for the 10pm news. Why? Because as a publicly listed company I did not see where RJR issued an update today on the stock market’s website or see where shareholders were advised. You can view the news releases for the RJR company on the Jamaica Stock Exchange here.

TVJ Banner – Logo and motto

Stock Market Not Yet Advised

While I get more au faîte  with what information a company is to release to the stock exchange for their shareholders, I would be hard pressed to believe that the appointment of a chairman for a subsidiary is not one. Why would RJR as a publicly listed company appoint a new chairman for one of its flagship companies and board member for its parent company and not advise the stock exchange? Or did they advise the stock market, but they’ve delayed in posting it.

If I were an investor in RJR, I would not be pleased. How can the media and the public be made aware of a new chairman, before me as a shareholder?

Do I have it wrong? Please help me to understand.

Update: On Monday Sep 23, 2013 and advisory was posted to the Jamaica Stock Exchange about the appointment.