Aug 2016 Financial News

Massy delists from B'dos Stock Exchange

Aug 05, 2016

T&T conglomerate Massy Holdings Limited is voluntarily delisting from the Barbados Stock Exchange (BSE). Registered shareholders in Barbados were advised of the decision in a July 27 circular letter which was published on the T&T Stock Exchange yesterday.

The voluntary delisting follows a decision made at the company’s annual general meeting on February 6, 2015, when shareholders unanimously approved a resolution to that effect.

In the circular letter, corporate secretary at Massy Holdings Limited Wendy Kerry told shareholders the company has received the de-listing order from the Financial Services Commission (FSC) to give effect to the de-listing subject to certain conditions.

Massy’s shares are expected to be de-listed from the BSE on September 30, and shareholders will have the option to sell their shares on the BSE by that date. The de-listing from the BSE will not prevent them from continuing to maintain their investment in Massy nor from trading in the company’s shares, Kerry said.

Shareholders can continue to hold their shares by transferring them to the T&T Central Depository (TTCD), or by requesting a physical share certificate. These can be facilitated through a registered broker in either Barbados or T&T.

She said: “We encourage all shareholders to take advantage of the opportunity to transfer their shares to the TTCD as the benefits of transferring include, ease of trading in the future and avoidance of having to follow the detailed procedures where a physical share certificate is lost or misplaced. “The transfer of shares from the BCSD (Barbados Central Securities Depository Inc) to the TTCD will attract a fee of approximately BD$20 per transfer and will be covered by the company on shareholders’ behalf, for all transfers which take place by September 30, 2016.”

For shareholders who do not select either option by September 30, the TTCD will prepare and mail a physical share certificate by October 31, 2016. This share certificate will replace shareholders’ holdings registered on the BCSD.

Source:
Trinidad Guardian
Friday August 5, 2016

http://www.guardian.co.tt/business/2016-08-05/massy-delists-b%E2%80%99dos-stock-exchange