Dec 2013 Financial News

Guardian Holdings Limited voluntarily delists from the Jamaica Stock Exchange

Dec 16, 2013

Notice to Shareholders

Mr. Arthur Lok Jack, Group Chairman of Guardian Holdings Limited (GHL) confirmed today that it has voluntarily applied to the Jamaica Stock Exchange (JSE) to have its shares delisted from the JSE pursuant to Rule 411B. The JSE in turn has approved GHL’s request. The action by GHL was reached after it undertook a thorough analysis of the costs and benefits of maintaining its dual listing on the Trinidad and Tobago Stock Exchange (TTSE) and the JSE. This analysis revealed that, trading activity on the JSE represents less than 1.5% of the overall trading activity in GHL shares.

As a result of this voluntary move, GHL will close its register on December 24, 2013 and its shares will be delisted on December 31, 2013. Thereafter, Jamaican investors can continue to trade GHL shares through the Trinidad and Tobago Stock Exchange, where its shares will trade as normal.

The Group Chairman, Arthur Lok Jack stated that GHL maintains a strong long-term commitment to Jamaica and that the delisting should be viewed strictly in the context of the cost/benefit analysis. The Group continues to hold a leadership position in the Jamaican insurance industry through its subsidiaries Guardian Life Limited and Guardian General Insurance Jamaica Limited.

Mr. Lok Jack noted that over the last two years alone, GHL has invested over US$53 million in Jamaica, including its recent purchase of Globe Insurance Company of Jamaica Limited, now successfully merged with West Indies Alliance Insurance Company Limited and operating as the aforementioned Guardian General Insurance Jamaica Limited and that GHL will continue to explore other opportunities that may become available.

Arthur Lok Jack
Chairman-GHL
December 13th, 2013


Source:
The Trinidad and Tobago Stock Exchange Limited
Monday December 16, 2013