Mission Statement
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Mission Statement To be the most trusted broadcast medium by having a commitment to truth, accuracy and fairness. To inform, educate and entertain audiences with credible, balanced and innovative programming supported by nationwide coverage and a skilled and motivated workforce. To further provide advertisers with quality service and a cost-effective medium, thus enhancing our competitive advantage and ensuring profitability. Contents Radio Jamaica Limited Annual Report 4 12 25 Directors and Chairman’s Management Corporate Data Statement Discussion & Analysis 6 14 28 Notice of Managing Director’s Pictorial Highlights Meeting Statement 7 22 Shareholders as at 2015 Senior March 31, 2015 Management Team 8 24 Directors Profile Directors’ Report Financial Statements 40 43 46 Consolidated statement of Consolidated statement Company statement of comprehensive income of cash flows changes in equity 41 44 47 Consolidated Company statement of Company statement balance sheet comprehensive income of cash flows 42 45 48 Consolidated statement Company balance Notes to the financial of changes in equity sheet statements Five Year Summary Form of Proxy 95 99 Radio Jamaica Limited Annual Report 2015 Directors and CORPORATE DATA DIRECTORS J.A. Lester Spaulding, C.D., J.P. – Chairman Executive Gary Allen, Dip. Media & Comm. (Hons.), E.M.B.A., J.P. – Managing Director Non-Executive Carl Domville, B.Sc. (Hons), F.C.C.A., F.C.A. Glenworth Francis, B.Sc., E.M.B.A. Andrew Leo-Rhynie, B.Sc., M.B.A. Minna Israel, B.Sc. (Hons.), M.B.A., J.P. Nadine Molloy, B.A. (Hons.), M.A., M.L.S., J.P. Peter Chin, B.Sc., M.B.A. Lawrence Nicholson, B.Sc., M.Sc., Ph.D. SECRETARY Stephen Greig, LL.B. SENIOR MANAGEMENT TEAM Gary Allen, Dip. Media & Comm. (Hons.), E.M.B.A., J.P. – Managing Director Stephen Greig, LL.B. – Company Secretary/Attorney-at-Law Gary Cole – Director of Marketing Andrea Wilson-Messam, F.C.C.A., F.C.A. – Director of Finance Claire Grant, B.Sc. (Hons.), M.A., M.B.A. (Distinction) – General Manager, Television Jamaica Limited Francois St. Juste, B.Sc. (Hons.) – General Manager, Radio Services Trevor Johnson, Dip. Bus. Admin., E.M.B.A. –Deputy General Manager TVJ & Outside Broadcast Production Manager Yvonne Wilks, Dip. Cam., B.A. (Hons.) – Director of Corporate & Commercial Strategy/Acting General Manager, Multi-Media Jamaica Limited GROUP OFFICERS Marcha Christie, A.C.C.A., Dip. Bus. Admin. – Group Financial Controller Milton Walker, B.A. – Group Head of News Tanya Smith, Dip. Insurance, B.Sc., M.B.A. (HRM) – Group Human Resource Manager Patrick Anderson – Acting Group Head of Sports Melvis Cummings – Chief Engineer, Operations TELEVISION OPERATIONS Claire Grant, B.Sc. (Hons.), M.A., M.B.A. (Distinction) –General Manager, Television Jamaica Limited Trevor Johnson, Dip. Bus. Admin., E.M.B.A. – Deputy General Manager TVJ & Outside Broadcast Production Manager Allea McDonald, B.A., M.A. – Studio Production Manager Judith Alberga, B.A. (Hons.) Programmes Manager Debbie Powell-Harris, Dip. Graphic Design, B.Sc. (Hons.) – Senior Art Director 4 Radio Jamaica Limited Annual Report 2015 Directors and CORPORATE DATA SUBSIDIARIES Reggae Entertainment Television Limited Television Jamaica Limited J.A. Lester Spaulding, C.D., J.P. – Acting Lawrence Nicholson, Ph.D, M.Sc., B.Sc. – Chairman Chairman J.A. Lester Spaulding, C.D., J.P. - Director Gary Allen, Gary Allen, Dip. Media & Gary Allen, Dip. Media & Comm. (Hons.), E.M.B.A., Comm. (Hons.), E.M.B.A., J.P. – Director J.P. – Director Dennis Howard, Ph.D. – Director Gregory Pullen David Geddes, M.B.A. – Director Stephen Greig, LL.B. – Company Secretary Angela Patterson, B.Sc., M.B.A. - Director Stephen Greig, LL.B. – Company Secretary Multi-Media Jamaica Limited Jamaica News Network Limited Gary Allen, Dip. Media & Comm. (Hons.), E.M.B.A., J.A. Lester Spaulding, C.D., J.P. – Acting J.P. – Chairman Chairman J.A. Lester Spaulding, C.D., J.P. – Director Gary Allen, Gary Allen, Dip. Media & Richard McCreath – Director Comm. (Hons.), E.M.B.A., J.P. – Director Rupert Hartley – Director Dennis Howard, Ph.D. – Director Andrea Wilson-Messam – F.C.A., F.C.C.A. – Director David Geddes, M.B.A. – Director Carlette DeLeon - Director Angela Patterson, B.Sc., M.B.A. - Director Stephen Greig, LL.B. – Director/Company Stephen Greig, LL.B. – Company Secretary Secretary AUDIT COMMITTEE REGISTERED OFFICE Carl Domville Broadcasting House Glenworth Francis 32 Lyndhurst Road J.A. Lester Spaulding Kingston 5, Jamaica W.I. AUDITORS BANKERS PricewaterhouseCoopers First Global Bank National Commercial Bank Jamaica Limited RBTT Bank Jamaica Limited REGISTRAR AND TRANSFER AGENTS Jamaica Central Securities Depository 40 Harbour Street Kingston 5 Radio Jamaica Limited Annual Report 2015 Notice of MEETING NOTICE IS HEREBY GIVEN that the Sixty-seventh Annual General Meeting of Radio Jamaica Limited will be held at the Jamaica Pegasus Hotel, 81 Knutsford Boulevard, Kingston 5, on Tuesday, September 15, 2015 commencing at 10:00 a.m. for the following purposes: 1. To receive the Accounts for the year ended director of the company”. March 31, 2015 and the reports of the Directors and Auditors thereon. (iii) “THAT retiring director Andrew Leo-Rhynie be and is hereby To consider and (if thought fit) pass the elected a director of the company”. following Resolution: (iv) “THAT retiring director Lawrence “THAT the Audited Accounts for the year Nicholson be and is hereby ended March 31, 2015 together with the electeda director of the company”. Reports of the Directors and Auditors thereon be and are hereby adopted. 3. To re-appoint the Auditors and to authorize the Directors to fix their remuneration. 2. To elect Directors: To consider and (if thought fit) pass the following Resolution: a) Pursuant to Article 90 of the Company’s Articles of Incorporation, the retiring Director “THAT Messrs. PricewaterhouseCoopers who is eligible for re-election is: having agreed to continue in office as Auditors, the Directors be and are hereby J.A. Lester Spaulding authorized to agree to their remuneration in respect of the period ending with the To consider and (if thought fit) pass the conclusion of the next Annual General following Resolution: Meeting.” “THAT retiring director J.A. Lester Spaulding A member entitled to attend and vote at be and is hereby elected a director of the this meeting may appoint another person as company”. his proxy to attend and vote instead of him and such proxy need not be a member of b) Pursuant to Article 98 of the Company’s the company. An appropriate form of proxy Articles of Incorporation, the retiring Directors is enclosed. all of whom are eligible for re election are: Dated this 24th day of June 2015. Carl Domville, Glenworth Francis, Andrew Leo-Rhynie, Lawrence Nicholson BY ORDER OF THE BOARD To consider and (if thought fit) pass the following Resolutions: (i) “THAT retiring director Carl Stephen Greig, LL.B. Domville be and is hereby Secretary elected a director of the company”. Broadcasting House (ii) “THAT retiring director Glenworth 32 Lyndhurst Road Francis be and is hereby elected a Kingston 5, JAMAICA, W.I. 6 Radio Jamaica Limited Annual Report 2015 Shareholders as at MARCH 31, 2015 TEN LARGEST No. of Units 1 PAM/JPS Employees Superannuation Fund 30,166,566 2 NCB Jamaica Limited 28,064,400 3 Ideal Portfolio Services 27,644,594 4 Mayberry West Indies Bank Limited 25,434,044 5 Grace Kennedy Limited Pension Scheme 16,757,994 6 Jamaica Co-operative Credit Union League 13,674,833 7 L.P. Azar Limited 12,937,688 8 Marlon C. Blake 11,000,000 9 King Alarm Systems 9,822,401 10 1VMBS A/C Contributory Pension Scheme 9,621,620 DIRECTORS 1 J.A. Lester Spaulding 7,870,350 2 Carl Domville 317,607 3 Peter Chin 0 4 Minna Israel 0 5 Lawrence Nicholson 0 6 Glenworth Francis 3,000 7 Gary Allen 12,025 8 Nadine Molloy 0 9 Andrew Leo-Rhynie 0 SENIOR MANAGEMENT 1 Gary Allen 12,025 2 Francois St. Juste 362,000 3 Stephen Greig 6,000 4 Yvonne Wilks 474,786 5 Gary Cole 0 6 Andrea Messam 23,422 7 Marcha Christie 0 8 Trevor Johnson 6,000 9 Claire Grant 120,289 7 Radio Jamaica Limited Annual Report 2015 Directors’ PROFILES J.A. LESTER SPAULDING, Treasurer of the Seprod Group of Companies C.D., J.P. (Retired October 2013). He serves on the Chairman Board of Directors of Barita Investments Ltd., is a Trustee of the Superannuation Fund for Appointed Managing Director Employees of Seprod Ltd. and Approved 1978, Retired 2008, Chairman Organizations and a member of The Teachers since 1994. Mr. Spaulding also Services Commission. serves as Chairman on two and director on two other subsidiary boards in the Group, GLENWORTH FRANCIS, Chairman/Trustee for the Group Pension B.Sc., E.M.B.A Fund and Co-Chair of the Digital Switchover Committee. Mr. Spaulding also serves as (Appointed April 2006) Mr. Director/Mentor on the boards of Lasco Francis is the Group Chief Distributors Ltd. and Lasco Manufacturing Executive Officer of the Jamaica Ltd., Director of Guardsman Alarms Limited, Co-operative League. He serves JN Money Services Ltd and GV Media Group as a member of the Board of J.E.T.S. Limited in London. He is a director of PALS Jamaica (operator of the Multi Link debit card network), Limited, Caribbean Community of Retired Credit Union Fund Management Company Persons, JSPCA and Hope Zoo Preservation Ltd., Centralized Strategic Services Company Boards. and Quality Network Co-operative. GARY ALLEN, E.M.B.A., J.P. ANDREW LEO-RHYNIE, Managing Director B.Sc. (Acctg.), M.B.A. (Appointed June 2006) (Finance), Chartered Business Managing Director (October Valuator 1, 2008).