ANSA Mc AL GETS INJUNCTION AGAINST TRADING OF BHL SHARES

Ansa McAl (Barbados) Limited at 6 pm Tuesday was successful in getting an interim injunction until November 11 from the Courts of Barbados against any further trading of Banks Holdings Limited (BHL) shares on the Stock Exchange or otherwise.

This injunction which was granted by Sir Marston Gibson, Chief Justice of Barbados, means that until November 11 no one will be allowed to solicit or negotiate the purchase or sale of BHL shares. It will also allow Ansa Mc Al (Barbados) Limited to contest the agreement made between BHL and SLU in the interest of all shareholders.

The parties will have an opportunity on November 11 to argue their case for or against the injunction at which time the court will decide whether to end or extend the injunction while the matter regarding the SLU agreement is heard.

(FILE IMAGE) President, CEO of Ansa Mc Al (Barbados) Limited, Nicholas Mouttet said that the company was very keen to avoid any unnecessary delays in the takeover process and had requested of the court a short interim injunction period and an early hearing to limit inconvenience to shareholders.

(FILE IMAGE) President, CEO of Ansa Mc Al (Barbados) Limited, Nicholas Mouttet said that the company was very keen to avoid any unnecessary delays in the takeover process and had requested of the court a short interim injunction period and an early hearing to limit inconvenience to shareholders.

Further details will be revealed by Ansa Mc Al (Barbados) Limited at a press conference later on Wednesday…

Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.

Comments

add a comment

Some HTML is OK

or, reply to this post via trackback.