Sep 2007 Financial News

McAL gives more time for accepting share offer

Sep 05, 2007

REGIONAL conglomerate ANSA McAL Ltd has extended its share offer of $8 to shareholders of Barbados Shipping & Trading (BS&T) until September 21.

That would be 15 days after the present deadline of September 6 which is the date when the price was raised to $8 per share from the original price of $7.

"This extra time will permit us the opportunity to further evaluate and carefully examine our plans for BS&T within the framework of our stated objectives," said David Inglefield, president and chief executive officer of ANSA McAL Barbados.

"The increase in the cost of the acquisition must be analysed with care, as we did not venture into this lightly and we see the need to re-examine the process at every milestone along the way."

In a statement to BS&T shareholders, the company assured them that it remained the best alternative for the future prospects of BS&T in Barbados and the region.

The president and CEO expressed appreciation to those who had already deposited their shares with ANSA McAL and further assured them of the organisation's committment to delivering the best value to all stakeholders based on the strong performance and positive growth projections of ANSA McAL in the region.

Any questions and requests for assistance may be directed by Shareholders to the Dealer Manager or to AMCL Holdings Limited at their respective addresses


Source:
Nation News Barbados
Wednesday 5th September, 2007

http://www.nationnews.com/story/320574414783238.php