Dissatisfaction raised with offer for purchase of Guardian Holdings

Complaints have emerged in Trinidad & Tobago regarding NCB Global Holdings' offer to purchase Guardian Holdings.

According to a report in Trinidad's Express newspaper, Trinidadian company executive Emile Elias, retired stockbroker Winston Padmore, Guardian shareholder Gordon Laughlin as well as minority shareholder rights activist Peter Permell believe the US$174 million offer made by NCB for Trinidad and Tobago-based Guardian Holdings is not enough.

Minority shareholders of  Guardian Holdings are also calling for the company and NCB Global Holdings to disclose a 2015 'lock-up' agreement signed between the then respective majority owners—the Lok Jack and Ahamad families and Jamaican billionaire Michael Lee Chin. They say this is pertinent to the sale of a majority stake in Guardian to NCB.

NCB last month announced that it had launched a take-over bid for Guardian Holdings.

The offer, if successful, would result in NCB acquiring a controlling interest in Guardian.

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