MPC Caribbean Clean Energy, which is listed on the T&T and Jamaica stock exchanges, has announced the successful completion of its strategic reorganisation, which was approved by its shareholders in May 2023.
Describeng the move as a significant milestone, MPC Caribbean says the primary objective of the move is to simplify the organisation's framework and mitigate administrative costs.
In addition, the company says the reorganisation reinforces its corporate governance by appointing an additional independent director, thereby fostering a more robust governance structure.
MPC Caribbean says the leaner, more efficient structure is anticipated to yield a reduction in annual operating expenses of up to 25 per cent.
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