Hardware and Lumber has applied to the Board of the Jamaica Stock Exchange to be delisted effective the May 31, 2016 or such later date to be agreed with the Jamaica Stock Exchange and the the Secretary be and is hereby authorized to do all such things and give all such instructions in the name of the this Board and the Company as may be necessary to make and give effect to the Application for Delisting.”
Argyle Industries Inc. acquired control of the Company on December 30, 2015 when it purchased the majority shareholding of Gracekennedy Limited (GK) in the Company, that is approximately 58.23%. By an Offer dated January 29, 2016 , Argyle offered to purchase all the remaining issued shares in the company. Argyle’s total shareholding in the Company now stands at 97.7%. Both Rules 106A and 411 a(i) of the JSE Rule Book provide that a listed company is liable to be delisted if it fails or cease to comply with any of the requirements of the Listing Agreement ( Appendix 3)
