May 2007 Financial News

No radical changes coming (NML and BS&T)

May 21, 2007

NEAL & MASSY's chief executive officer (CEO) Bernard Dulal-Whiteway says the gas and industrial giant will be sensitive to the needs of Barbadians and local Barbados Shipping & Trading (BS&T) shareholders.

Furthermore, while the proposed merged company would be registered and headquartered in Trinidad and Tobago, "all the various BS&T companies that operate – such as Almond, SBI, the Super Centres – they will continue going".

He added that radical changes in BS&T were unlikely.

Dulal-Whiteway explained that at the subsidiary level BS&T directors would be placed on boards in Trinidad and Tobago and Trinidadians would be on the boards of subsidiaries in Barbados.

Meantime, the CEO said the Trinidad and Tobago Securities Commission had already given its blessing to the planned merger. The Securities Commission of Barbados is still to give approval.

Dulal-Whiteway is expected be here from today for talks with his counterpart, Anthony King, of BS&T.

He will also take time out to meet with the media to present Neal & Massy's perspective and answer questions about the merger.

(GE)

Source:
The Nation Newspaper
Monday May 21, 2007

http://www.nationnews.com/story/309775259520694.php