SHAREHOLDERS JOIN ANSA McAL IN SHAREHOLDER OPPRESSION SUIT

ANSA McAL (Barbados) Limited will be appealing the Courts’ decision last Friday to lift the injunction that blocked trading of shares and bidding for control of Banks Holdings Limited. President, CEO of ANSA McAL (Barbados) Limited.

Nicholas Mouttet announced his company will be joined by several other BHL shareholders who intend to bring a class action suit against BHL with a view to getting the "$10 Put Option" clause removed from the BHL/SLU agreement.

Nicholas Mouttet announced his company will be joined by several other BHL shareholders who intend to bring a class action suit against BHL with a view to getting the “$10 Put Option” clause removed from the BHL/SLU agreement.

Most of the BHL shareholders who intend to join with ANSA McAL in the class action suit have shareholding over 100,000 shares. The Trinidadian executive also called on all other BHL shareholders who feel aggrieved to join in the class action suit.

The lawsuit will contest the validity of the ‘put option’ clause, challenge its legality and seek to establish that it is indeed disadvantageous to all shareholders other than SLU/ AmBev.

A major concern of the litigants is that the $10 'Put Option' was inserted into the BHL/SLU agreement without shareholder permission and therefore may be unenforceable.

A major concern of the litigants is that the $10 ‘Put Option’ was inserted into the BHL/SLU agreement without shareholder permission and therefore may be unenforceable.

ANSA McAL and the other shareholders are in agreement that they are fighting for a fair and level playing field to ensure that shareholders can get maximum value for their shares.

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.