January 21, 2025
Barita Investments Limited (BIL) has advised of the preliminary results of the votes cast by shareholders at its Extraordinary General Meeting which was held in-person on Monday, January 20, 2025, regarding the proposed court sanctioned composite Scheme of Arrangement for the Cornerstone Group which would result in Cornerstone Trust & Merchant Bank Limited (“CTMB”), Barita, and Barita’s wholly-owned subsidiary, Barita Unit Trusts Management Company Limited, becoming subsidiaries of Barita Financial Group Limited (“BFGL”), the proposed financial holding company. These preliminary results indicate the approval of Barita’s shareholders by a majority in number present in person or by proxy (representing 81.87% in value) in favor of the composite Scheme of Arrangement.
BIL has further advised that at an Extraordinary General Meeting of Cornerstone United Holdings Jamaica Limited (the parent company of the merchant bank, CTMB), of even date, the majority in number of its shareholders present in person or by proxy (representing over 95% in value) voted in favor of the composite Scheme of Arrangement.
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