Jan 2008 Financial News

Barbados Farms Limited Take Over Bid

Jan 11, 2008

Sagicor Financial Corporation has informed the Exchange that at the time of the closing of its Offer made on January 9 2007, 15,834,136 shares in Barbados Farms Limited representing 76.8% of the issued and outstanding shares of Barbados Farms Limited were tendered by 337 Shareholders to Sagicor. This includes shares tendered by entities owned or controlled by Sagicor. Sagicor is therefore proceeding with the Offer and intends to take up and pay for all Barbados Farms shares validly tendered.

The cash component of the consideration (being 35% of the total offer price of Bds $5.00 per share) for all shares validly tendered, will be paid and settled in full within 30 days of the closing of the Offer, or by Friday, February 8, 2008.
The remaining consideration of 65% of the total offer price will be satisfied by the issue of 10,292,197 Common Shares in Sagicor Financial Corporation. No fractional shares in Sagicor Financial Corporation will be issued.

Barbados Farms Shareholders, who would otherwise have become entitled to receive fractional shares in respect of the number of Barbados Farms shares tendered, will receive a cash payment in lieu of such fractional shares.

After the new Sagicor shares have been issued, registered and listed on the various Stock Exchanges, the Barbados Central Securities Depositary Inc will send statements to Barbados Farms Shareholders evidencing their ownership of shares in Sagicor Financial Corporation.


Source:
The Trinidad and Tobago Stock Exchange
Friday 11th January, 2008