The exact holding which the Island holds within the Jersey Electricity Company Limited (JEC), including any subsidiary companies held within the JEC portfolio or which trade under the JEC name
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WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY THE DEPUTY OF ST. JOHN
ANSWER TO BE TABLED ON TUESDAY 24th MARCH 2009
Question
Could the Minister advise the Assembly of the exact holding, in percentage terms, which the Island holds within the Jersey Electricity Company Limited (JEC), including any subsidiary companies held within the JEC portfolio or which trade under the JEC name, state who the Directors of the said companies are and what, if any, share holdings within these companies are held by the people of Jersey?
Answer
The States' holds 62% of the ordinary share capital in the Jersey Electricity Company Limited (JEC) and 54% of the company's total share capital. JEC has investments in the following:
Subsidiary undertaking: Jersey Deep Freeze Limited Associate: Newtel Holdings Limited
Joint venture: Foreshore Holdings Limited
Other investments: Channel Islands Electricity Grid Limited
The States does not have any direct shareholding in any of these companies. As the States has no direct holdings in these companies it does not maintain records of their directors. Each company is required to make an annual return to the Registrar at the Financial Services Commission, including information on their directors.