12 May 2020 17:04
CARIBBEAN INVESTMENT HOLDINGS LIMITED - CANCELLATION OF TREASURY SHARES, REDUCTION OF ISSUED SHARE CAPITAL & FURTHER ADMISSION OF DEPOSITORY INTERESTS
British Virgin Islands, May 12, 2020 -- Caribbean Investment Holdings Limited (London - AIM: CIHL; Bermuda - CIHL) (the "Company" or "CIHL") announces that the Board of Directors have approved the cancellation of 4,296,557 ordinary shares of nil par value which were held as treasury shares. The treasury shares were originally held in connection with an employee incentive scheme which is no longer applicable.
As a result of the cancellation of the treasury shares, the Company's issued share capital has been reduced to 98,967,443 ordinary shares. The total percentage of shares held by the majority shareholder, Lord Michael Ashcroft is now 78.33%. Following this cancellation, there are no shares held in treasury.
Further to the Company's recent Continuation to the BVI, which resulted in the re-admission of 18,795,345 depository interests to trading on AIM, being the number of ordinary shares on the Company's register represented by depository interests at that time, CIHL has applied for admission of an additional 80,172,098 depository interests to trading on AIM ("Admission") to match the Company's revised share capital figure. The increased number of depository interests has been made to ensure that any shareholder that wishes to trade electronically in future is able to do so upon de-materialising shares into CREST. It is expected that Admission will occur on 18 May 2020.
For further information contact:
Caribbean Investment Holdings Limited
UK +44 (0)207 248 6700
Belize +501 227 7178
Cenkos Securities plc
Nicholas Wells +44 (0)207 397 8920
Note: This and other press releases are available at the Company's website: http://www.cihltd.co.
Background Information
Caribbean Investment Holdings Limited (CIHL) is a parent holding company with no independent business operations or assets other than its investments in its subsidiaries, intercompany balances and holdings of cash and cash equivalents. CIHL's businesses are conducted through its subsidiaries. The Belize Bank Limited (BBL) is incorporated and based in Belize and focuses on the provision of financial services and lending to domestic clients. Belize Bank International Limited is incorporated and based in Belize and focuses on the provision of financial services and lending to international clients. CIHL also owns an international corporate services business based in Belize, which operates as Belize Corporate Services Limited. Within Belize, BBL is one of the largest, full service commercial and retail banking operation with a head office in Belize City and eleven branches extended into each of the six districts of Belize. The principal operations of BBL are commercial lending, consumer lending, deposit taking and related banking activities.
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