AMCL HOLDINGS LIMITED
NOTICE OF AMENDED OFFER TO PURCHASE
any and all the outstanding Ordinary Shares of
THE BARBADOS SHIPPING & TRADING COMPANY LIMITED
at a cash price of BDS $ 9.00 (US $4.50) per Ordinary Share
The further amended offer will be open for acceptance until 5.00 p.m. (Barbados time) on October 8, 2007, unless withdrawn or extended by the Offeror.
The additional time afforded by the extension of the Offer has enabled the Offeror to undertake a further in-depth analysis of the assets and business of BS&T, with the purpose of re-evaluating its business plans for unlocking the value potential of BS&T.
The Offeror remains confident that the indicative value and operational synergies identified in the Offer Documents and in communications with the Shareholders remain valid. This perspective, and the underlying assumptions thereof, continue to inform and influence the Offeror’s plans for BS&T and is the basis on which the Offeror re-affirms its commitment not to divest assets or effect any liquidation of BS&T.
We wish to thank the many shareholders who have already deposited their shares and assure them that ANSA McAL remains confident that we are the best alternative for the future prospects of BS&T in Barbados and the Region and remains committed to delivering the best value to all stakeholders.