Mar 2010 Financial News

Agostini’s Limited – Notice to Shareholders – Update on Acquisition of Smith Robertson & Company Limited and SuperPharm Limited

Mar 01, 2010

The following Notice to Shareholders was received from Agostini’s Limited:

We take this opportunity to update our Shareholders on the company’s acquisition of Smith Robertson & Company Limited and SuperPharm Limited.

On January 4, 2010 we engaged the Trinidad and Tobago Securities and Exchange Commission for feedback on the documents to be sent to our shareholders, regarding this transaction. Once we have completed this process and our due diligence exercises on Smith Robertson & Company Limited and SuperPharm Limited, we will then issue the Information Memorandum to Shareholders, along with a notice of the special meeting to be held to approve this transaction.

We have noted some speculation in the newspapers regarding the transaction and as a result wish to advise our Shareholders that the valuation done by Mr. Williams Lucie-Smith, on our behalf, valued Agostini’s Limited shares at $9.636 per share, a premium of 28% on the trading price of $7.50 on the date of the valuation of December 21, 2009. Mr. Lucie-Smith, a former partner of PricewaterhouseCoopers, is perhaps Trinidad and Tobago’s most experienced professional, on Business Valuations and Mergers and Acquisitions, to both the Government and Private Sector.

We recommend that our Shareholders take the above into consideration when making any investment decisions, with respect to Agostini’s Limited shares.


Source:
The Trinidad and Tobago Stock Exchange Limited
Monday March 1, 2010