We act for CMP Holdings Limited, (“the Company”) which was incorporated under the laws of St. Lucia, and which owns and controls approximately eighty percent (80%) of the shares in CMP Industries Limited.
The directors of the Company have authorized Myers, Fletchers & Gordon Attorneys-at-Law to inform the Jamaica Stock Exchange that the Company’s shareholders have entered into an Agreement for Sale and Purchase of Shares (the “Agreement”) by virtue of which they have agreed to sell all of their shares in the Company to Castelo Holdings B.V., a company incorporated under the laws of Curacao. The Agreement is governed by the laws of St. Lucia.
The Agreement was executed on August 16, 2007 and is scheduled to be completed on or before August 24, 2007. Upon the completion of the Agreement, the existing directors on the boards of the Company and CMP Industries Limted will resign and be replaced by persons nominated by Castelo Holdings, B.V.
One of the condition of the Agreement is that Castelo Holdings B.V. shall, within ten (10) days of Completion, make an offer to all of the shareholders of CMP Industries Limted (other than the Company) to purchase all of their shares in CMP Industries Limited in accordance with the Rules of the Jamaica Stock Exchange.