ANSA McAL Ltd reaffirms the company’s view that the intervention, via the recent Order of the Barbados Securities Commission in the take over bid for BS & T, is a positive step in the direction of promoting transparency and orderly conduct.
We welcome the investigation by the Barbados Securities Commission, as a greater level of transparency and oversight is important in these matters if shareholder democracy is to be maintained. ANSA McAL is of the view that there were several events that occurred during the course of the bidding process that could have been prejudicial to our position and may have inhibited our ability to achieve the 50.1% of BS&T shares.
With the advent of the CSME, an increased number of cross-border mergers and acquisitions are inevitable that will enhance the region’s competitiveness and offer more diversity to the investing public.
It is therefore extremely important that the regulatory processes are harmonized across the region and serve equally the interest of all stakeholders.
ANSA McAL remains committed to the highest standards of corporate governance in all matters and is ready to cooperate full and completely with the Barbados Securities Commission in their investigation.
ANSA McAL (Barbados) Ltd.
David G. Inglefield
President / CEO