The Jamaica Money Market Brokers, JMMB, is to issue a mandatory takeover offer for outstanding shares held by Capital and Credit shareholders.
JMMB says shareholders of Capital and Credit holding 93 percent of the company's shares has indicated they will accept the takeover offer.
With the acceptance level surpassing 90 percent, JMMB can trigger its right under the companies act to make a mandatory offer for acquisition of the fewer than 7 percent shares which remain outstanding.
JMMB on May 25, made an offer to acquire all shares in Capital and Credit for 4 dollars 55 cents per share to be paid 70 percent by cash and 30 percent in JMMB shares.
Shareholders who however do not want to cede the shares to JMMB can go to court for such determination by July 22.
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