Home' Trinidad and Tobago Guardian : July 3rd 2016 Contents A17
July 3, 2016 www.guardian.co.tt Sunday Guardian
All three Indices closed higher this week. The
Composite Index climbed 0.90 per cent or 10.12
points to end the week at 1,139.11, the All Trinidad
and Tobago Index rose 0.23 per cent or 4.20 points
to 1,793.33 and the Cross Listed Index added 3.50
per cent or 2.18 points to close at 64.54.
Market activity on the First Tier Market increased
19.78 this week with 1,174,379 shares changing
hands compared to the previous week’s volume of
980,423 shares. The value of shares traded, however,
fell 40.95 per cent from $15,985,677.18 last week
to $9,440,153.57 this week. The volume leader, for
the second week in a row, was JMMB Group Limited
(JMMBGL) with 38.31 per cent of the weekly volume
traded or 449,863 shares.
The advance to decline ratio ended the week six
to eight. The major advance was FirstCaribbean
International Bank Limited (FCI), which registered
a 6.54 per cent gain or $0.43 to close the week at
$7.00 and the major decline was National Enter-
prises Limited (NEL), down 2.09 per cent or $0.23
There was no activity on the Second Tier Market
this week. On the TTD Mutual Fund Market 346,221
CLICO Investment Fund (CIF) units traded with
a value of $7,845,367.86. CIF’s price remained
unchanged at $22.66.
In addition, 465,450 Praetorian Property Mutual
Fund (PPMF) units traded with a value of
PPMF’s price rose 0.80 per cent or $0.02 to
TRINIDAD AND TOBAGO STOCK EXCHANGE TRADING SUMMARY
WEEKLY BULLETIN FOR WEEK ENDED JULY 1, 2016
MARKET INDICES AS AT JULY 1, 2016
Weekly% YTD %
All T&T Index
Cross Listed Index
Market Capitalisation 111,250,685,396 0.90
MARKET ACTIVITY FOR WEEK ENDED JULY 1, 2016
Republic Financial Holdings Limited (RFHL) – 01.07.16
The Trinidad and Tobago Stock Exchange Limited (TTSE) received notice
from RFHL of its acquisition of an additional 19 per cent shareholding in
Republic Bank (Grenada) Limited (RBGL), moving
its shareholding to 70 per cent. This comes further to the Notices
published on May 6, and June 10, advising of the opening and subsequent
extension of the Offer Period for RFHL to
acquire the remaining shareholding in RBGL. The Offer Period officially
closed on June 24, after 45 days.
The transaction, which resulted in the Holding Company’s acquisition of an
additional 285,042 shares at a price of EC$45.00 per share, has
strengthened its position as the single largest shareholder in that bank.
RFHL earlier held a 51 per cent shareholding in its Grenadian subsidiary.
Sagicor Financial Corporation (SFC) – 01.07.16
The TTSE received notice from SFC of the following:
• That in accordance with the terms of their issuance Sagicor Financial
Corporation (“the Company”) will redeem on July 18, all of its outstanding
unconverted Convertible Redeemable Preference Shares in the capital of
the Company (“Preference Shares”).
The amount to be paid on redemption is one dollar per share United
States currency or where applicable its equivalent in local currency (the
“Redemption Price”) and this will be paid to the Convertible Redeemable
Preference Shareholders of record at the close of business on July 8.
• In accordance with the Companies Act Cap 308 of the Laws of
Barbados that the directors of the Company have by resolution declared a
final dividend of 1.13 cents per share US currency on the outstanding
Preference Shares, to be paid on July 18 to the Convertible Redeemable
Preference Shareholders of record at the close of business on July
• That the directors of the Company have by resolution fixed the
currency conversion rate of US$0.50 to BDS$1.00 for the payment
of the Redemption Price and dividend in Barbados currency (BDS$)
to Convertible Redeemable Preference Shareholders resident in
The dividend will be paid separately from the Redemption Price.
Preference Shares will trade “ex div” from July 6. Only those
DIVIDEND/CAPITAL DISTRIBUTION PAYMENTS
Security Amount Ex-Div. Date Record Date Payment Date
0.04 (I) 22.06.16
SBTT 0.40 (I) 09.06.16
Dividends of cross listed companies are quoted in their national
Convertible Redeemable Preference Shareholders of record on July 8
will be entitled to receive the final dividend.
The tax consequences of a redemption for shareholders may be
different from that of a sale.
Holders should consult their tax advisors regarding the tax
treatment to them of any capital gain or capital loss arising on the
redemption of the Preference Shares based on their particular
circumstances. From and after July 18, the holders of the Preference
Shares will not be entitled to dividends or to exercise any rights of
holders of Preference Shares in respect of such shares except to
receive the amount paid on redemption.
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