Feb 2015 Financial News

Massy Holdings Ltd – Notice to Shareholders

Feb 10, 2015

Approval granted by the Shareholders of Massy Holdings Ltd. (“the Company”) for the voluntary delisting of the Company’s Shares (“the Shares”) from the Barbados Stock Exchange (“BSE”).

At a Meeting of the Board of Directors of the Company held on November 6, 2014, the Board considered that it was in the best interest of the Company to recommend that the Shareholders consider, and if thought fit, approve and consent to the voluntary delisting of the Company’s shares from the BSE. The recommendation for the voluntary delisting was primarily due to the low level of trading in Massy’s shares on the BSE which does not justify the costs associated with maintaining the cross-listing. Further, the absence of harmonisation of laws and regulations between Trinidad & Tobago and Barbados have added to the cost of regulatory compliance.

At the Annual Meeting of the Company held on February 6, 2015, the Shareholders, by special resolution, approved and consented to the voluntary delisting of the Shares of the Company from the BSE, subject to regulatory processes and any conditions prescribed by law. Shareholders and the general public will in due course, be advised of the final date of the voluntary delisting.

The Company will continue to maintain its listing on the Trinidad & Tobago Stock Exchange (“TTSE”) and Shareholders, both in Barbados and Trinidad & Tobago, may easily continue to trade in the Company’s shares.

The Company remains committed to its Shareholders and to its business in Barbados. This voluntary delisting is expected to bring further corporate efficiency to the Company.

Source:
The Trinidad and Tobago Stock Exchange
Tuesday February 10, 2015