Barita Investments Limited recently disclosed the outcomes of the votes cast by shareholders during its Extraordinary General Meeting held at the Spanish Court Hotel on January 20, 2025. The meeting aimed to determine the approval of the court sanctioned composite Scheme of Arrangement for the Cornerstone Group, which would lead to CTMB, Barita, and Barita’s subsidiary becoming part of Barita Financial Group Limited (BFGL).
Key Points:
- 99.66% of Barita’s shareholders in attendance or who submitted proxies voted positively for the Scheme of Arrangement.
- This affirmative vote represents 81.87% of the total shareholding in Barita.
- At a simultaneous Extraordinary General Meeting of Cornerstone United Holdings Jamaica Limited, the parent company of CTMB, the majority of shareholders present or represented by proxy supported the Scheme, totaling over 95% in value.
These results affirm strong shareholder support for the proposed merger and consolidation within the financial sector. The overwhelming approval signifies confidence in the strategic vision and potential benefits of the arrangement for all parties involved.
Overall, the success of the voting process underscores the commitment of shareholders to the future growth and stability of the financial institutions within the newly formed Barita Financial Group. The collaborative effort to streamline operations and enhance synergies emphasizes a forward-looking approach to harnessing growth opportunities and delivering value to all stakeholders.
The resounding endorsement of the Scheme of Arrangement sets a positive trajectory for the financial landscape, paving the way for a more robust and integrated financial ecosystem. As stakeholders unite under the umbrella of Barita Financial Group, they embark on a journey towards shared prosperity and sustainable growth in the evolving financial services industry.
Leave feedback about this