Oct 2011 Financial News

BCB Holdings Limited - De-Merger of Non-Belizean Business

Oct 21, 2011

Belize City, Belize, 19 October 2011. BCB Holdings Limited (London - AIM: BCB; Trinidad and Tobago Stock Exchange - BCBTT; Bermuda - BBHL) today announces that the Board is proposing to BCB Holdings Shareholders that the Company be reorganised by demerging its Non-Belizean Businesses into a new holding company, Waterloo Investment Holdings Limited, which has recently been incorporated in British Virgin Islands to become the new holding company for the Non-Belizean Businesses.

It is intended that the Demerger will be effected by way of the declaration and payment by BCB Holdings of a dividend in kind to Qualifying BCB Holdings Shareholders, followed by a capital reduction and repayment to those Qualifying BCB Holdings Shareholders satisfied by the transfer of the Non-Belizean Businesses and the New Loan Note to WIHL, in consideration for the issue of shares by WIHL to the Qualifying BCB Holdings Shareholders and the assumption by WIHL of the obligations of BCB Holdings under the Assumed Loan Notes by way of the issue of the WIHL Debentures to the Assumed Loan Noteholders.

The Company will be dispatching a circular to BCB Shareholders today containing further details of the Demerger.

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday October 21, 2011