Completion of Demerger (9232Q)

TIDMBCB

RNS Number : 9232Q

BCB Holdings Ltd

26 October 2011

BCB Holdings Limited Demerger of its Non-Belizean Businesses

Belize City, Belize, 26 October 2011. BCB Holdings Limited (London - AIM: BCB; Trinidad and Tobago Stock Exchange - BCBTT; Bermuda - BBHL) (the "Company") today announces that at the General Meeting of the Company held today, a resolution approving the reorganisation of the Company and its subsidiaries (the "Group") by the demerger of the Group's non-Belizean businesses to Waterloo Investment Holdings Limited ("WIHL") was approved. The board of directors of the Company has also approved all relevant steps and the demerger is now effective. Ordinary shares in WIHL will be traded on JP Jenkins from 27 October 2011 on a matched bargain basis.

In addition, the Company confirms that Andrew Ashcroft and Philip Johnson have now stepped down from the board of Directors and Cheryl Jones is now non-executive Chairman.

The Company also confirms that the new exercise price for the warrants, which are admitted to trading on AIM, is US$1.95 and that the options in the Company have also been amended to reflect an exercise price of US$1.95. The options vest and become exercisable in three equal instalments on August 1 2012, August 1 2013 and August 1 2014 and they lapse on August 1 2019. The interests held in the Company by the Directors are as follows:

 
Director           Number of shares  Percentage of shares  Number of options  Number of warrants 
 
Cheryl Jones       398,556           0.4%                  0                  0 
Lyndon Guiseppi    5,000             0.0%                  2,000,000          0 
Peter Gaze         888,638           0.89%                 0                  14,923 
Philip Osborne     215,890           0.15%                 1,000,000          156,138 
Dr Euric Bobb      0                 0.0%                  250,000            0 
John Searle        263,609           0.3%                  0                  64,069 
Philip Priestley   0                 0.0%                  0                  0

For further information contact:

BCB Holdings Limited Belize +501 227 7178 UK +44 (0)20 7248 6700

Cenkos Securities plc Nicholas Wells / Adrian Hargrave +44 (0)20 7397 8900

Note: This and other press releases are available at the Company's web site: http://www.bcbholdings.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCPGGBPUUPGPPQ

Caribbean Investment (LSE:CIHL)
Historical Stock Chart
From Jun 2024 to Jul 2024