Republic Bank (RBL) recently rebranded Barbados National Bank (BNB) with the Republic Bank blue. It pained many Barbadians to witness WE bank sold to “others” and it pained further when the BNB brand was dismantled and replaced with RBL’s. If it WAS any consolation, central government and the NIS owned a minority shareholding which gave hope that the holding may have served as an avenue to reclaim the bank at some point in the future. Sad to say, wishful thinking!
The recent offer by RBL to purchase minority shares was successful. According to 187 of the Companies Act because 90% of the offer was taken up, it gives RBL the right to acquire ALL dissenting shares.
The letter attached dated 17 December 2012 confirms RBL’s intention to invoke that right pursuant to the Companies Act. By the end of the year RBL in all likelihood become the100% owner of the former BNB.
Here endeth a national symbol.
Notice to Dissenting RBL Shareholders:
But ….. we have not realised how to play tit-for-tat. So Machel comes to entertain, while we rage about the sell-out of BNB; and we host a troup of Jamaican entertainers, while Ms. Myrie & the Jamaican Government take us to the CCJ!
We like it so!
don’t bajan entertainers ply their trade in trinidad as well and are you saying that ms myrie should not exercise her right for justice with respect to her perceived grievance?
No balance, he is saying that Bajans are brass bowls.
@Bushie:
Not saying that either! Just noting that we complain about Trinidadian take-over, and lack of support for Bajan-produced items in other territories, but we support all – Caribbean and non-Caribbean.
It seems when Barbados was chair of Caricom we use to suffer several attacks from the regionalists about how there was no urgency on our part to forge the union. Do we hear the same stridency in comment coming through nowadays from Rickey Sign, Tennyson Joseph, Saunders et al?
@David:
When the Rt. Excellent Errol W Barrow was PM of Barbados, he, Eric Williams [of T&T], Forbes Burnham [Guyana], Michael Manley [Jamaica] and later Sir James “Son” Mitchell [St. Vincent], used to communicate formally and informally about island matters.
Today, with superior [so we say] communication avenues available, is there the same level of interaction among our leaders? Do we get that impression from their statements?
It was perhaps his impressions of our leaders lack of informal interaction that led the late David Thompson to remark about “a bowl of soup” agreement to a fishing dispute.
We bicker about the defense territorial borders from regional imperialism, while opening the doors wider to international imperialism, because of our need for foreign exchange.
The course of history will change the day Bajans boycott products from hostile countries like Trinidad.
Bajan fishermen get lock up in Trinidad and what did we do….NOTHING.
How many of you will transfer your accounts from Trinidad owned Banks?….NONE.
How many of you will stop buying food imported imported from Trinidad? NONE.
Because all we want is we belly full.
Buh doan mine me hear? I live in Canada an dey does protes nuff up hey.
http://www.cbc.ca/news/canada/toronto/story/2012/08/28/ontario-teachers-rally-legislature.html
Well Dennis my boy with a hardening of position between Jamaica and Barbados and a T&T position which has morphed into to some kind of diplomatic juggernaut NOT to forget the inclination of the sub region to stay within their group.
Well you are a smart guy…
This time next year we will be blogging the same b e and Bajans will still get lock up for fishing in Tobago and the Trinis would have bought a few more Bajan businesses.
and Barbados National Bank of T&T will make more profits from the captive consumers of Barbados.
The other Caricom territories are openly smirking behind Bim’s back at her current misfortunes. They are just waiting for the IMF vehicle to knock Bim to the ground to have a good laugh.
Poor Bim, look how the mighty little titan (once punching above its weight) has fallen! The land of cou cou and flying fish has now totally fallen into the ownership and control of smart Callaloo. Even the Baje of “tek ya meat out me rice’ notoriety has passed the whole pot to the trikidadian who don’t drink pine hill milk.
The first to break out in fits of guffaws would be the Guyanese deported in embarrassing droves with Myrie and friends having a good dancehall giggle.
Even the flying fish have left for more fertile waters. It has become tooo expensive to swim in these waters. Boy we at the bottom of the gully without a rope.
Of interest:
@ David
We are sleepwalkers. That is why I am the least bit surprised when many argue that PM Stuart’s ‘decency’ and oratorical skills in spite of his lack of decisiveness makes him a good leader. SMFH.
Is it me?? or has anyone else noticed from reading today’s nation news that the COST U LESS chain so touted by Thompson and his side kicks, will in reality be costing Barbados MORE with all the concessions alotted to them. Should have been called COST BIM MORE!! when will the rape of this island stop. Why are our black leaders the weakest link as regards the protection of their own people???
On the Emera takeover of Bim’s electrical utility, turns out this is a private Canadian company that we all know when profits start going south will sell to the highest bidder, of course we also know it will never belong to Bim or Bajans again, don’t care how much the employees pretent it’s theirs. Just more of the same folks, just more of the same.
What is the latest with the proposed credit union bank that Sir Courtney was working on?
Read the last two sentences of this report.
I send a deposit there over a yr ago, I am still waiting for a statement , the check was cashed..I visited the bank 10/2012.