Dec 2017 Financial News

NCB Financial Group Limited - NCBFG Take Over Bid in respect of 74,230,750 Ordinary Shares in Guardian Holdings Limited

Dec 08, 2017

The Board of Directors of NCB Financial Group Limited (NCBFG), today approved a resolution to facilitate the making of an offer (the Offer) through its wholly owned subsidiary, NCB Global Holdings Limited (the Offeror), to purchase up to Seventy - Four Million Two Hundred and Thirty Thousand Seven Hundred and Fifty (74,230,750) ordinary shares in Guardian Holdings Limited (GHL), a company incorporated in the Republic of Trinidad and Tobago on the basis of US$2.35 per ordinary share in GHL (the GHL Shares).

The Offer, if successful, would results in NCBFG acquiring a controlling interest in GHL. Full acceptance of the offer will result in a purchase consideration of US$174,442,262.50 (the Purchase Consideration) to be funded by NCBFG.

The terms of the Offer will be set out in an Offering Bid Circular and is intended to be made available on December 8, 2017, to all shareholders of GHL.

The Offer is being made subject to any regulatory and other approvals required in Trinidad and Tobago, Jamaica and other countries in which GHL and or its subsidiaries are regulated.

The full terms of this Offer remains confidential until launched and a public announcement of the Offer will be made on December, 2017.


Source:
The Trinidad and Tobago Stock Exchange Limited
Friday December 8th 2017