It’s Official! FCIBJ to be delisted by year end.

It’s official. First Caribbean International Bank Jamaica Ltd will be removed from the Jamaica Stock Exchange before the end of 2011. If you’re a shareholder, be sure to sell your shares before the chance is gone. In a release to the JSE today it was stated:

First Caribbean International Bank

First Caribbean International Bank (Jamaica) Limited has advised that its ordinary shares will be delisted with effect from December 30, 2011.

The Bank has made notice of its intention to purchase all the ordinary shares which minority shareholders may wish to sell to the bank. In particular: The purpose of the purchase is to provide minority holders of the ordinary shares an opportunity to dispose of their  shares before the delisting if they so wish.

The purchased shares will eventually be cancelled. The bank is prepared; in accordance with section 58 of the Companies Act, to purchase all the ordinary shares which minority holders may, by 4:00 p.m. on Thursday, December 22, 2011, offer to sell the Bank. The price to be provided for the purchase of the shares will be $13.25 (the “Sale Price”). The Bank will accept through its brokers, offers to sell from minority shareholders which offers are made at the Sale Price and subject to the conditions of sale specified in the Bank`s letter to minority shareholders inviting offers to sell.