Oct 2007 Financial News

Neal & Massy: We broke no laws

Oct 26, 2007

NEAL & MASSY has not contravened any laws regulating take-overs, the company maintains.

In a Press release issued yesterday to clarify matters for Barbados Shipping & Trading (BS&T) shareholders, Neal & Massy Holdings Limited said it "unequivocally denies any suggestion that it has at any time acted in contravention of the relevant laws regulating take-over".

It was responding to the statement appearing in the Barbados Press on Wednesday, where the Securities Commission advised that one or more of the parties involved in the take-over bid for BS&T may have breached provisions of the Take-Over Bid Regulations.

Yesterday's release further reads that Neal & Massy prides itself as a responsible corporate citizen and has at all times in the process pursued its offer with the highest integrity and transparency.

"It has at every step of the transaction maintained open lines of communication with the regulators in Barbados and Trinidad and Tobago, and has sought and acted upon competent legal advice throughout."

The company has reassured fellow shareholders of BS&T that it will strive to ensure that they are afforded an excellent opportunity to realise optimum value for their shares. (WB)

Source:
The Nation Newspaper
Thursday October 25, 2007

http://www.nationnews.com/story/300280378238038.php