Aug 2016 Financial News

One Caribbean Media Limited - Notice of Material Information

Aug 02, 2016

We are pleased to announce that One Caribbean Media Limited (OCM) has entered into an agreement to purchase a 51% stake in Green Dot Limited, providers of Digital Cable TV and Broadband Internet services.

Green Dot has been operating in the Trinidad market for over 10 years and has established a strong customer base. The company has also recently expanded into Suriname and Grenada.

This investment is supportive of the Group’s selective diversification strategy and presents new opportunities for the partnership.

OCM wishes to emphasise that the change will see key management being retained so that customers of the Cable TV and Broadband Internet can look forward to the enjoyment of their services without interruption.

The transaction is subject to regulatory approval, but it is not expected that this will give rise to any difficulty or cause undue delay in completing the transaction.

OCM is a publicly owned and regionally focused media company quoted on the stock exchanges of Trinidad and Tobago and Barbados.

ONE CARIBBEAN MEDIA LIMITED
Dawn Thomas
Group Chief Executive Officer
 

Source:
The Trinidad and Tobago Stock Exchange Limited
Tuesday August 2, 2016