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.