ST. GEORGE’S, Grenada, CMC – The shareholders of Republic Financial institution (Grenada) Ltd have agreed and authorized the elimination of the monetary establishment from the Japanese Caribbean Securities Trade (ECSE), the place its shares are at the moment buying and selling at EC$45 (One EC greenback=US$0.37 cents) per share.
In line with a discover by the financial institution, shareholders agreed to delist the monetary establishment on the annual assembly on January 22 this yr.
“Nonetheless, the Japanese Caribbean Central Securities Depository will proceed as registrar to the corporate for the upkeep of the share certificates registry and the cost of dividends to shareholders,” mentioned the discover printed in a neighborhood newspaper.
In line with the ECSE, the worth of Republic Financial institution (Grenada) Ltd shares dropped by one greenback final Thursday when 200 shares traded at EC$44 per share from its earlier traded value.
The ECSE, created in 2001, is the primary organized regional securities market established inside the eight member nations of the Japanese Caribbean Forex Union (ECCU). It’s designed to offer an alternate mechanism for establishments to boost capital inside the regional monetary system.
The Republic Financial institution (Grenada) Ltd is one in all three Grenadian firms listed on the sub-regional inventory market. The others are the Grenada Cooperative Financial institution, the Grenlec Electrical energy Service, and the Grenreal Property Company.
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