FirstCaribbean (Ja) sells shares to B'dos affiliate
published: Tuesday | September 21, 2004

THE BOARD of Directors of First-Caribbean International Bank (Jamaica) Limited, headed by Raymond Campbell, has decided that the Bank should sell all its holding of 12,500,000 ordinary shares in FirstCaribbean International Securities Limited to FirstCaribbean International Bank (Barbados) Limited for a purchase price of J$250,000,000.00 that is, J$20.00 per share payable in cash.

The Bank is to enter into an agreement for the sale of the shares with FirstCaribbean International Bank (Barbados) Limited. The sale will allow FirstCaribbean International Securities Limited to be 100 per cent owned by FirstCaribbean International Bank (Barbados) Limited.