Attention shareholders and investors, Barita Investments Limited (BIL) has exciting news to share. The Cornerstone Group is gearing up for a significant corporate reorganization in order to comply with the Banking Services Act of 2014 (BSA). This strategic move will be facilitated through a court-approved composite scheme of arrangement that will bring about some impactful changes within the organization.
Here are the key points to note regarding the corporate reorganization:
- The reorganization will see Cornerstone Trust & Merchant Bank Limited, Barita Investments Limited (Barita), and Barita’s wholly-owned subsidiary, Barita Unit Trusts Management Company Limited, transforming into subsidiaries of Barita Financial Group Limited (BFGL), the proposed financial holding company.
As part of the process, a crucial in-person meeting is slated for Monday, January 20, 2025, at noon at the Spanish Court Hotel, located at 1 St. Lucia Avenue, Kingston 5. This meeting will provide an opportunity for Barita’s shareholders to gather firsthand information and insights into the upcoming changes.
Additionally, shareholders can access the necessary documents related to the reorganization on Barita’s website:
Notice of the Meeting
Form of Proxy
Scheme Booklet
Feel free to familiarize yourself with these documents to stay informed and prepared for the forthcoming developments within the company.
In conclusion, this corporate reorganization marks an important milestone for both Barita Investments Limited and the Cornerstone Group. Your participation and engagement in the upcoming meeting will be crucial as we navigate through these transformative changes together. Let’s embrace this new chapter with optimism and enthusiasm for what lies ahead.
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