Harford: CLICO investors selling themselves short

(Trinidad Express) Unit holders of the Clico Investment Fund are giving away their investments, Republic Bank chairman Ronald Harford has said.

Speaking after the Arthur Lok Jack Graduate School of Business graduation ceremony Saturday night at the Hyatt Regency (Trinidad), Port of Spain, Harford said perhaps investors were eager to get back their investments because they had thought they would never get it back, and the Fund is providing such an avenue.

“But they should be patient. (The units) are far more valuable than the deals I see going through,” he said.

“It’s four units for one Republic Bank share; Republic is for TT$105.00 so it should be about TT$26.00 per (unit) although the last transaction I saw was about TT$20.00. If you buy (these units) you are getting Republic’s shares at a huge discount,” he said.

Eighty-six per cent of the Fund comprises 40,072,299 Republic Bank shares with a nominal value of nearly TT$4 billion. Republic Bank is listed on the ordinary share market of the local Stock Exchange (TTSE) for TT$105.50 per share. The CIF, listed on the TTSE mutual fund market, was last valued at TT$20.31 per unit, after a launch price of TT$25.00 per unit.

default placeholder

Shareholders plan sees Clico retaining six companies

(Trinidad Guardian) The United Shareholders Limited’s plan to deal with Clico’s residual debts to Government envisages that CL Financial retain control of six companies—including Angostura Holdings Limited, Colfire Ltd and Home Construction Ltd—and that there be a joint approach among shareholders and Government to steer Clico’s future.

Camille Robinson-Regis

T&T Cabinet agrees to pay cane farmers final TT$58m payment

(Trinidad Guardian) Cabinet has decided to pay cane farmers the final settlement of TT$57,965,675 of the compensation package promised back in 2007.

default placeholder

T&T petrol dealers facing crisis – association head

(Trinidad Guardian) President of the Petroleum Dealers’ Association of T&T, Robindranath Naraynsingh, on Thursday said the country’s 170 gas stations were on the verge of collapse due to poor profitability margins from the sale of fuel.

default placeholder

U.S., Cuba hold ‘substantive’ second round talks on claims

WASHINGTON/HAVANA July 29 (Reuters) – The United States and Cuba have concluded a “substantive” second round of talks on multibillion-dollar claims against one another in Washington and agreed to hold more regular meetings on the matter, a State Department Official said yesterday.

Pleased with victory: Water and Sewerage Authority (WASA) Information Technology Officer, Kerwin Simmons, who claimed to have faced racial discrimination and victimisation at his work place, is all smiles following an Equal Opportunity Tribunal (EOT) judgment in his favour at the EOT’s office on Manic Street, Chaguanas on Thursday.

T&T Equal Opportunity tribunal rules: Employee of African descent discriminated against in favour of East Indian

(Trinidad Express) A Water and Sewerage Authority (WASA) employee who had accused the State agency of racial discrimination was on Thursday awarded TT$186,000 plus interest in compensation by the Equal Opportunity Tribunal (EOT).

Robindranath Naraynsingh

T&T petrol dealers facing crisis – association head

(Trinidad Guardian) President of the Petroleum Dealers’ Association of T&T, Robindranath Naraynsingh, yesterday said the country’s 170 gas stations were on the verge of collapse due to poor profitability margins from the sale of fuel.

Comments

About these comments

The comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit or delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity.

Stay updated! Follow Stabroek News on Facebook or Twitter.

Get the day's headlines from SN in your inbox every morning: