“The Board of Directors of Dehring Bunting & Golding Limited (DB&G) advises that The Bank of Nova Scotia Jamaica Limited and the Bank of Nova Scotia (collectively, ‘Scotia’ ) have today announced their intention to make a joint takeover bid to acquire up to 80 per cent with a minimum of 75 per cent of the shares in DB&G at a price of J$21.08 per stock unit to stockholders in Jamaica and TT$2.00 to stockholders in Trinidad & Tobago.
Scotia’s announcement indicates that offer is expected to open at 9 a.m. on October 23, 2006 and is expected to close at 5 p.m. on November 27, 2006.
On receipt of the offer, DB&G’s Board of Directors will appoint a special Board Committee to review the offer and advise the Board as to the recommendation to stockholders which is required by Jamaican and Trinidadian regulatory requirements, and the Board will shortly thereafter issue a Directors’ Circular to DB&G’s stockholders in compliance with the regulatory requirements in both jurisdictions.”
