Lascelles Demercado and
Company limited has announced that it received an offer for the purchase of all
its ordinary stock units as well as six per cent of its preference stock units
from the Trinidad based Angostura Limited.
The offer was received on Wednesday and the Lascelles Demercado's board of Directors met on Thursday to consider it.
The company says it will issue an announcement on the offer by December 27.
Angostura limited has offered to pay US$10.65 for the ordinary shares and 30 US cents per unit for the preference shares.
The offer, which opened on Tuesday, will close on January 28 next year.
Angostura Limited has been asked to submit a copy of the offer to each Lascelles stockholder.
In the meantime, the Jamaica Stock Exchange (JSE) is reporting that it is satisfied that the offer documents submitted to Lascelles by Angostura Limited comply with its rules for takeovers and mergers.
The JSE says it is of the view that Angostura Limited has provided shareholders of Lascelles Demercado with sufficient evidence and facts to allow them to make informed decisions.
In a release published on December 4, the JSE had expressed concern about the offer made by Angostura Limited.
The offer was received on Wednesday and the Lascelles Demercado's board of Directors met on Thursday to consider it.
The company says it will issue an announcement on the offer by December 27.
Angostura limited has offered to pay US$10.65 for the ordinary shares and 30 US cents per unit for the preference shares.
The offer, which opened on Tuesday, will close on January 28 next year.
Angostura Limited has been asked to submit a copy of the offer to each Lascelles stockholder.
In the meantime, the Jamaica Stock Exchange (JSE) is reporting that it is satisfied that the offer documents submitted to Lascelles by Angostura Limited comply with its rules for takeovers and mergers.
The JSE says it is of the view that Angostura Limited has provided shareholders of Lascelles Demercado with sufficient evidence and facts to allow them to make informed decisions.
In a release published on December 4, the JSE had expressed concern about the offer made by Angostura Limited.
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