Guardian Holdings Limited (GHL) Trinidadian Shareholders Unanimously Approve US $75 Million Transaction
Trinidad & Tobago’s Guardian Holdings Limited (GHL) has securely closed the deal on the proposed US $75 million investment by the IFC into the equity of GHL by the International Finance Corporation (IFC), it was taken when the GHL Shareholders unanimously approved the transaction at an extra-ordinary meeting of its Shareholders conducted on September 1, 2010.
IFC’s purchase of approximately 12.8% of Company shares at TT$16 per share, which represents a 22% premium to the share price’s 90 day moving average price, means GHL will benefit from an injection of capital that will improve cash flow, expand its capital base, and reduce its debt obligations. Additionally the move will support and facilitate the future growth strategy across the Group.
Chairman Arthur Lok Jack expressed confidence that this transaction will benefit not only the GHL Group, its shareholders and other external stakeholders, but also the wider community.