Pegasus Hotels of Jamaica Limited (PEG) has advised that Directors Kevin Hendrickson and John Issa entered an agreement dated September 28, 2011 pursuant to which Quivin Holdings Limited (an entity owned by Kevin Hendrickson) will acquire the shares in the Company owned by Director John Issa.
PEG understands that pursuant to this agreement Quivin will also acquire shares held by other shareholders of the Company and will consequently hold a total of approximately 93.4% of the total shareholding of the Company. The acquisition is expected to occur on October 18, 2011 or such other date as the parties agrees. PEG understands further that Quivin will then be obliged to publish a Notice to all remaining shareholders of the Company advising of its obligation to acquire their shares and inviting them to tender their shares.
