Jun 2017 Financial News

Ansa McAL Limited - Notice of Material Change

Jun 22, 2017

LEGAL NOTICE
PURSUANT TO SECTION 64 OF THE SECURITIES ACT, 2012

ANSA McAL Limited (“ANSA McAL”), through ANSA Coatings International Limited (ACIL), its wholly owned subsidiary and an International Business Company established in St Lucia:

• On 12th June, 2017, entered into a Share Purchase Agreement with Chan Ramlal Limited for the acquisition of 500,000 ordinary shares in Berger Paints Trinidad Limited (“Berger”), representing 9.7% of the shareholding of Berger, a publicly listed company incorporated under the laws of Trinidad and Tobago.
• On 16th June, 2017, ANSA McAL entered into a Share Purchase Agreement with Berger International Private Limited for the acquisition of 1,869,805 ordinary shares in Lewis Berger (Overseas Holdings) Limited (“LBOH”), representing 100% of the shareholding in LBOH, a private limited company incorporated under the laws of England & Wales. LBOH is the owner of:

           a. 3,613,011 ordinary shares in Berger, representing 70% of the shareholding of Berger;
           b. 376,000 equity shares, representing 100% of the shareholding of Berger Paints Barbados Limited, a company incorporated under the laws of Barbados;
           c. 109,332,222 equity shares, representing 51% of the shareholding of Berger Paints Jamaica Limited, a publicly listed company incorporated under the laws of Jamaica.

Both Share Purchase Agreements entered into are subject to the fulfillment of certain conditions precedent, typical in share purchase transactions of this nature, before completion of the share purchase transactions contemplated thereby can be completed.

ANSA McAL also holds, through its wholly owned subsidiary, Sissons Paints Limited, 60,606 ordinary shares in Berger, representing 1.17% of the shareholding of Berger.

By Order of the Board
Frances Bain-Cumberbatch
Group Head of Legal/Corporate Secretary

ANSA McAL Limited
11th Floor, TATIL Building
11 Maraval Road
Port of Spain, Trinidad, W.I.
June 20th, 2017
 

Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday June 22, 2017