By Javaughn Keyes
Investors in listed company Ciboney have agreed to rename the company.
At its last annual general meeting in December, the resolution was passed for the company to be called Innovative Energy Group.
This is the name of the firm which purchased the shares in Ciboney from the Financial Sector Adjustment Company (FINSAC) in June 2023.
FINSAC held a 72.14 per cent stake in the listed company.
Innovative Energy is a subsidiary of business advisory services company Wiltshire Consulting and Advisory.
Shareholders in Ciboney also agreed to an increase in the company's share capital.
The resolution for the maximum number of shares in the company to move from 546 million ordinary shares to no maximum number was passed.
Ciboney Group was formerly a major investor in the Ciboney Hotels and Villas in Ocho Rios, St. Ann.
But the 1990s financial meltdown and debt saw Ciboney's properties being sold off by FINSAC, which was the majority shareholder in the distressed financial companies.
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