ECSRC issues notice to minority shareholders
The Eastern Caribbean Securities Regulatory Commission is advising minority shareholders of First Caribbean International Bank that they are entitled to have the new owners of the Bank acquire the remaining minority shareholding.
A notice signed by representatives of four regional regulatory authorities appearing on the ECSRC website states that on 2 February 2007, CIBC Investments (Cayman) Limited (CICL) became the majority shareholder in FirstCaribbean Bank, having acquired Barclays Bankâs ownership stake in the company.{{more}}
The notice indicates that one of the terms of the agreement is that CICL must inform the minority shareholders in writing of their entitlement to require the owners to acquire the remaining minority shareholding. Shareholders wishing to exercise this option are required to do so within a specified period.
Further details are available from the ECSRC website at www.ecsrc.com
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