May 2008 Financial News

RBTT shares to cease trading on Monday

May 29, 2008

The T&T Stock Exchange yesterday announced that it will suspend trading in shares of RBTT Financial Holdings Limited next Monday in preparation for the delisting of the securities.

The move follows the sale of RBTT Bank to the Royal Bank of Canada (RBC) in a transaction approved by RBTT shareholders at a special general meeting on March 26, 2008.

RBC had indicated that the shares would be removed from the local stock market upon completion of the transaction. In exchange, RBC has agreed to issue depository receipts in its stock to local RBTT shareholders.

A depository receipt programme is being developed by the Securities and Exchange Commission of T&T and is expected to be launched on the local stock market by July.


Source:
Trinidad Guardian
Thursday May 29, 2008

http://www.guardian.co.tt/business4.html