Feb 2008 Financial News

NEAL & MASSY TAKES UP SHARES OF BARBADOS SHIPPING AND TRADING COMPANY LIMITED

Feb 28, 2008

NEAL & MASSY TAKES UP SHARES OF
THE BARBADOS SHIPPING AND TRADING COMPANY LIMITED
(“BS&T”) TENDERED AS AT 17TH DECEMBER, 2007
PURSUANT TO ITS OFFER TO ACQUIRE ALL THE ISSUED
AND OUTSTANDING SHARES OF BS&T


27th February, 2008

Further to the press release issued by Neal & Massy Holdings Limited (“Neal & Massy”) on Friday 15th February, 2008 and to the Order of the Barbados Securities Commission dated the 18th February, 2008 resuming trading in the Shares of BS&T, Neal & Massy wishes to advise BS&T Shareholders that it has taken up all BS&T Shares validly tendered as at the 17th December, 2007 to the Offer by Neal & Massy to acquire all the issued and outstanding Shares of BS&T (not already owned by Neal & Massy).

Neal & Massy has commenced payment for such Shares at the consideration stated in its Offer and Take-Over Bid Circular as amended and as required by the Consent Order made by the High Court of Barbados on 13th February, 2008. Any queries with respect to the payment of such consideration may be directed to any of the Designated Brokers listed below.

Neal & Massy wishes to remind Shareholders of BS&T who did not tender their Shares to the Neal & Massy Offer and Take-Over Bid prior to the 17th day of December, 2007 that, pursuant to the said Consent Order, they are now entitled to do so on or before 4 p.m. on the 29th day of February, 2008 and that Neal & Massy must take up and pay for any such BS&T Shares on or before the 14th day of March, 2008 upon the same terms and conditions as are contained in the Neal & Massy Offer and Take-Over Bid as modified by the Consent Order.


Designated Brokers:

In Barbados

Tessa Pickering, Manager or
Eric Scott, Senior Investment Officer
BNB Finance & Trust Corporation
Independence Square
Bridgetown, Barbados, W.I.
Telephone: (246) 431-5926
Fax: (246) 429-8389
E-mail: tpickering@bnbbarbados.com
escott@bnbbarbados.com


In Trinidad and Tobago

Godfrey Gosein, CEO (Ag.) or
Patrice Dubisson, Compliance Officer
Republic Securities Limited
Briar Place, 1st Floor
10 Sweet Briar Road, St. Clair
Trinidad W.I.
Telephone: (868) 622-8581
E-mail: ggosein@republictt.com
pdubisson@republictt.com


Neal & Massy once again wishes to thank the Shareholders of BS&T for their patience throughout the Take-Over process. The Directors of Neal & Massy are pleased to welcome you as Shareholders of Neal & Massy.


Source:
The Trinidad Guardian, Page 85
Thursday February 28, 2008