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Financial News

Apr 2012 Financial News

JMMB - Proposed Acquisition of Capital & Credit Financial Group Limited

Apr 10, 2012

Jamaica Money Market Brokers Limited has informed the Stock Exchange that the Bank of Jamaica (BOJ) has completed its assessment of the Company’s application to acquire the Capital & Credit Financial Group (CCFG) and has recommended to the Minister of Finance and Planning that approval be granted.

This recommendation puts JMMB in a position to make a formal offer to the shareholders of CCFG in Jamaica and Trinidad and Tobago to acquire 100% of their shareholdings. On receiving the formal offer, the Board of CCFG will, as required by regulations, issue a Directors’ Circular providing its recommendations to its shareholders.

The Minister has indicated that he will grant JMMB approval subject to the acceptance of the offer by the holders of CCFG shares and receipt of required submissions.


Source:
The Trinidad and Tobago Stock Exchange Limited
Tuesday April 10, 2012