May 2016 Financial News

Republic Financial Holdings Limited - Approval of Offer and take over bid circular

May 02, 2016

Pursuant to Section 64(1)(b) of the Securities Act 2012

Offer to purchase Shares in Republic Bank (Grenada) Limited

On January 26, 2016, the Board of Directors of Republic Financial Holdings Limited, the majority shareholder of Republic Bank (Grenada) Limited and with a shareholding of 51%, gave approval for Republic Financial Holdings to make an offer to the shareholders of Republic Bank (Grenada) to acquire the remaining issued ordinary shares (the “Offer”). Shareholders of Republic Bank (Grenada) will be offered cash consideration in exchange for their shares.

Republic Financial Holdings, in making the Offer, determined that the Offer is a fair and attractive investment for the shareholders of Republic Bank (Grenada).

The Offer document will be mailed to all shareholders on May 9, 2016 and the Offer period opens on May 11, 2016.

Source:
The Trinidad and Tobago Stock Exchange Limited
Monday May 2, 2016