The remaining shares will be bought for J$10.50 per share

Durrant Pate/Contributor

Trinidad-based regional distribution conglomerate, A.S. Bryden & Sons Holdings( ASBH) has accepted 67.4% of the shares tendered in its Mandatory Take-Over Bid of Jamaican distribution company, Caribbean Producers Jamaica (CPJ).

The mandatory take-over is via a share swap of 10 ASBH shares for every 35.23 CPJ shares.

The basis of allotment has been determined and all applicants who tendered their shares and who either have less than 35.23 shares or have a balance of less than 35.23 shares remaining after the share swap, shall be paid at a cash price of J$10.50 per CPJ share tendered.

Mayberry Investments, acting as the broker for the take-over bid of up to 51.78 million ordinary shares in CPJ, has disclosed that applicants who tendered their CPJ shares will have those shares accepted, subject to a pro-rata allocation of approximately 67.4 % of the shares tendered.

ASBH thanked all applicants who participated in the takeover bid and congratulated all ASBH partners and team members who have been crucial in making this takeover bid a success.