Oct 2005 Financial News

50 MILLION SHARES TO BE LISTED

Oct 25, 2005

ANOTHER Bajan entity will soon be listing in Trinidad and Tobago.

It is the Fortress Caribbean Property Fund which is embarking on this initiative to list its shares on the Trinidad and Tobago Stock Exchange.

Roger Cave, the manager, revealed this while announcing that the present Rights Issue scheduled to end this week in Barbados, has met with good response from the Fortress shareholders.

Cave was at the time speaking at the opening of the Carlisle Wharf, Bridgetown. Just recently Fortress Caribbean Property Fund issued a Rights Issue aimed at raising $30.2 million to fund new projects in Barbados and St. Lucia.

Cave said the offer is going very well so far and that they had gained approval to list the Fund on the Trinidad and Tobago Stock Exchange.

It is expected that over 50 million shares will be listed on that market and will widen the Fund's investment portfolio. Also commenting on the proposed listing in Trinidad was Paul Altman, a member of the Board of Directors of the Fund.

He recalled the beginning of the Fund being listed on the Junior market of the Barbados Stock Exchange, before graduating to the regular market and now the Trinidad and Tobago market.

"With the expansion of our investments, all of this is making Fortress a recognised player in the market place," Altman said.

Only a few Barbadian companies are cross-listed in Trinidad and Tobago : Barbados Shipping and Trading, and the Sagicor Financial Corporation.



The Barbados Advocate
Monday, 24th October, 2005
http://www.barbadosadvocate.com/IndexNewBusinessleft.cfm?Type=B