AIM Schedule One - Caribbean Investment Holdings Ltd (7099J)
15 April 2020 - 7:00PM
UK Regulatory
TIDMCIHL
RNS Number : 7099J
AIM
15 April 2020
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION
IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES (
" AIM RULES")
COMPANY NAME:
Caribbean Investment Holdings Limited (the " Company " or "
CIHL " )
COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY
TRADING ADDRESS (INCLUDING POSTCODES) :
Existing registered office:
212 North Front Street
P.O. Box 1764
Belize City
Belize
Central America
New registered office following change of jurisdiction of incorporation
to British Virgin Islands:
Craigmuir Chambers
Road Town
Tortola
VG1110
British Virgin Islands
New trading address following change of jurisdiction of incorporation
to British Virgin Islands:
101 Governors Road
Leeward
Providenciales
Turks and Caicos Islands
British West Indies
COUNTRY OF INCORPORATION:
Existing country of incorporation is Belize. Country of incorporation
following change of jurisdiction of incorporation will be British
Virgin Islands
COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED
BY AIM RULE 26:
https://www.cihltd.co/investor-centre/aim-rule-26
COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR,
IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING
POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE
TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
Caribbean Investment Holdings Limited is a company incorporated
in Belize under the International Business Companies Act of
Belize. CIHL primarily operates financial services businesses
through its subsidiaries The Belize Bank Limited and Belize
Bank International Limited, both located in Belize and international
corporate services through Belize Corporate Services Limited.
CIHL owns the largest full service commercial and retail banking
operation in Belize. The Company's strategy is to respond to
the needs of its diverse client base by providing flexible,
cost-effective and innovative service solutions that allow
them to run their businesses more efficiently.
Its main country of operation is Belize.
DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS
AS TO TRANSFER OF THE SECURITIES (i.e. where known, number
and type of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury
shares):
The Company has 103,264,000 ordinary shares in issue of no
par value, including 4,296,557 treasury shares. 18,795,345
of the Company's ordinary shares are represented by depositary
interests.
Accordingly, the Company will admit 18,795,345 depositary interests
to trading on AIM
There are no restrictions on the transfer of securities.
CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING)
AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:
None
PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
80.43%
DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH
THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE
OR WILL BE ADMITTED OR TRADED:
CIHL shares are also traded on the Bermuda Stock Exchange
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS
(underlining the first name by which each is known or including
any other name by which each is known):
Peter Gaze , Chairman and Non-Executive Director
Euric Bobb , Deputy Chairman and Non-Executive Director
Geraldine Davis-Young , Non-Executive Director
Lyndon Guiseppi , Chief Executive Officer
Ydahlia Metzgen , Non-Executive Director
Philip Osborne , Director and Company Secretary
FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED
AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER
ADMISSION (underlining the first name by which each is known
or including any other name by which each is known):
Significant Shareholders Percentage Holdings
Lord Michael Ashcroft KCMG PC 75.07%
============================== ===================
Link Market Trustees (Nominees) Limited. 18.21%
NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE
2, PARAGRAPH (H) OF THE AIM RULES:
None
(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION
DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:
(i) 31 March
(ii) N/A - no admission document
(iii) 30 September 2020, 31 December 2020, 30 September 2021
EXPECTED ADMISSION DATE:
28 April 2020
NAME AND ADDRESS OF NOMINATED ADVISER:
Cenkos Securities plc
6.7.8. Tokenhouse Yard
London
EC2R 7AS
NAME AND ADDRESS OF BROKER:
Cenkos Securities plc
6.7.8. Tokenhouse Yard
London
EC2R 7AS
OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE
(POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE
AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
https://www.cihltd.co/investor-centre/aim-rule-26
THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO
APPLY
Quoted Companies Alliance ("QCA") Corporate Governance Code
DATE OF NOTIFICATION:
15 April 2020
NEW/ UPDATE:
New
QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:
THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S
SECURITIES HAVE BEEN TRADED:
London Stock Exchange AIM market
THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO
TRADED:
23 April 2007
CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT
HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED
IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET OR DETAILS
OF WHERE THERE HAS BEEN ANY BREACH:
Confirmed
AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS
WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS
(IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE:
https://www.cihltd.co/investor-centre/rns-news
DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING,
IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING
STRATEGY:
The Company's strategy is to continue to respond to the needs
of its diverse client base by providing flexible, cost-effective
and innovative service solutions that allow them to run their
businesses more efficiently.
A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING
POSITION OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE END
OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE
BEEN PUBLISHED:
The Company announced on 2 April 2020 that the COVID-19 pandemic
is causing significant uncertainty within global banking markets
including the Caribbean and Belize. Accordingly the Board of
CIHL announced that it had decided not to a pay a final dividend
for the year ended 31 March 2020. It was announced that the
Board would review its dividend policy for the current fiscal
year once banking markets have returned to a more stable state.
A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON
TO BELIEVE THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS
GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM
THE DATE OF ITS ADMISSION:
The Directors of the Company confirm that they have no reason
to believe that the working capital available to the Group
will not be sufficient for at least 12 months following the
date of Admission.
DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE
AIM RULES:
None
A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANTÕS
SECURITIES:
Securities to be settled in CREST via Depository Interests
A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S
SECURITIES:
https://www.cihltd.co/investor-centre/aim-rule-26
INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT
WHICH IS NOT CURRENTLY PUBLIC:
None
A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST
ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR
END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND INTERIM
RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BE PREPARED IN
ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM
RULE 19:
https://www.cihltd.co/results-reports
and
https://www.cihltd.co/results-reports
THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:
The Company has 4,296,557 ordinary shares of no par value in
treasury.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
PAAUVAWRRVUSARR
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