ATTENTION BS&T SHAREHOLDERS
Following the announcement of our offer to purchase all of the outstanding Shares of BS&T at B$10.00. We have been receiving reports from Shareholders that they are being ‘encouraged’ to sell their shares on the Stock Exchange rather than to pledge their Shares with ANSA McAL.
The reasons given are that
(1) ANSA McAL will only complete its offer if on reaching 50.1%.
(2) Since Neal & Massy already holds 27.9% our threshold may be impossible to attain.
We completely reject these assertions and are extremely encouraged by the tremendous responses via pledges from BS&T Shareholders to our B$10.00 offer over the last eighteen hours. We remain confident that this momentum will continue to well beyond the 50.1% threshold.
BS&T Shareholders should not be misled by inaccurate statements that causes them to surrender considerable value by selling at less than B$10.00.
We also wish to state clearly that although achieving 50.1% is preferable and is a condition of our offer it does not restrict us to only accepting 50.1% and our original offer was constructed to allow us to adjust the threshold either up or down accordingly.
Our offer of BDS$10.00 is the premier offer on the market, and as we have stated and demonstrated, ANSA McAL is Best for BS&T and has already delivered considerable value to BS&T Shareholders.
David G Inglefield
ANSA McAL (Barbados) Ltd