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Financial News

Mar 2023 Financial News

Eppley Caribbean Property Fund Limited SCC - Development Fund - Takeover Bid Closure

Mar 29, 2023

Pursuant to section 64(1) of the Trinidad and Tobago Securities Act 2012 and Trinidad & Tobago Stock Exchange Limited (‘TTSE”) Rule 603 (1), (2) and (3), Eppley Fund Managers Limited (the “Offeror”) wishes to advise all shareholders of EPPLEY CARIBBEAN PROPERTY FUND LIMITED SCC - DEVELOPMENT FUND [the “Company”) that the offer to purchase a minimum of 20% and up to a maximum of 60% of all issued and outstanding cellular development fund shares (the “Shares”) of the Company at a cash price of BDS$0.21 (the “Offer”) closed as of 3:00 pm on March 27, 2023.

24,335,503 of the Shares of the Company were deposited in response to the offer and the Offeror has agreed to take up and purchase all deposited Shares. If the tender and acceptance of all Shares is, as expected, confirmed by the Barbados Stock Exchange as valid, the Offeror will own 45.04% of Shares and will continue to own 100% of the Company’s voting common shares. Subject to the validation of the Barbados Stock Exchange, payments for deposited Shares will be made to shareholders by April 27, 2023. 

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The Trinidad and Tobago Stock Exchange Limited
Wednesday 29th March, 2023