(Trinidad Express) The company has already de-listed from Guyana’s equivalent of a stock exchange, the Eastern Caribbean Securities Exchange (ECSE), and the Jamaica Stock Exchange (JSE). It is now de-listing from the Barbados Stock Exchange, and analysts say its T&T base is next.
“Trinidad Cement Ltd (TCL) wishes to advise that effective as of Monday, March 6, 2017, its ordinary shares have been de-listed from the Barbados Stock Exchange Inc. (BSE),” the company said in a Trinidad and Tobago Securities and Exchange Commission (TTSEC) Form 10 Material Change Report.
The plan to de-list from the BSE was made since July 20, 2015, when TCL shareholders unanimously voted to so do, citing high costs of being listed on these small regional capital markets.
TCL’s board of directors also passed a resolution on February 23, 2017, authorising the company to make an application to the JSE pursuant to Rule 411B to de-list the ordinary shares of TCL from the Kingston-based exchange. The application was made on March 2. “The delisting of TCL from the exchange will be effective on a date to be determined by the JSE,” the JSE said in a March 6 statement.
Last year, on January 18, TCL also de-listed from Guyana’s equivalent of a stock exchange, the Guyana Association of Securities Companies and Intermediaries (GASCI). Later that same year, effective March 1, TCL de-listed from the ECSE.