Mar 2019 Financial News

RFHL - Republic Bank Trinidad and Tobago (Barbados) Limited announces approval of its Partial Offer for Cayman National Corp

Mar 08, 2019

Republic Bank Trinidad and Tobago (Barbados) Limited (RBTTBL) refers to its partial offer circular dated 14 September 2018 in relation to its proposal to acquire a minimum of 51% and up to 74.99% of the ordinary shares of Cayman National by way of a tender offer to Cayman National shareholders at an offer price of US$6.25 per Cayman National share.

RBTTBL and Cayman National are pleased to announce that they have now received approval from all required regulatory and governmental authorities in order to move forward and consummate the Partial Offer.
 

Closing and Payment to Shareholders

The Partial Offer currently has an Expiry Date of 8 March 2019. Assuming this Expiry Date is not extended further, settlement of the consideration to which any Cayman National shareholder is entitled under the Partial Offer will be initiated on 13 March 2019.

Shareholders resident in the Cayman Islands and entitled to consideration under the Partial Offer may pick up their cheque from 12p.m. (Cayman Islands time) on 13 March 2019 at Cayman National Securities Ltd., 2nd Floor, Suite 6201, 62 Forum Lane, Camana Bay, Grand Cayman. Thereafter, cheques will be available for collection at the same address during regular business hours. Currently valid government-issued photo identification will be required for collection.

Shareholders resident outside of the Cayman Islands and entitled to consideration under the Partial Offer will receive funds by wire transfer initiated on 13 March 2019.

Number of Cayman National shares to be acquired by RBTTBL

As valid acceptances have been received in respect of more than 31,756,248 Cayman National shares, the total number of shares to be acquired by RBTTBL from each accepting Cayman National shareholder will be determined in accordance with the following formula:

(A/B)*C,

where:

A: 31,756,248 Cayman National shares

B: the total number of Cayman National shares tendered by all Cayman National shareholders under the Partial

    Offer

C: the number of Cayman National shares tendered by the relevant Cayman National shareholder under the Partial

     Offer.
 

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday 08 March, 2019