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Notice To Shareholders Of Banks Holdings Limited
June 30, 2017
Pursuant to its obligations under the provisions of section 60(3)(a) of the Securities Act, Cap. 318A of the laws of Barbados, the directors of Banks Holdings Limited, a company amalgamated under the laws of Barbados and listed on the Barbados Stock Exchange Inc. (the "Company') wish to advise that as a result of several extensions of the franchise which has been provided by The Coca-Cola Company, the Company has undertaken a series of negotiations in order to put in place a successor relationship for its subsidiary, the Barbados Bottling Co. Limited ("BBC"), going forward.
As a result of the Company's negotiations, the Directors of the Company have taken a decision to sell the Company's interest in BBC to Koscab Distribution (Barbados) Ltd. ("Koscab"), Coca-Cola's regional anchor, bottling and distribution partner incorporated in St. Lucia. The proposed sale is subject to various conditions and is only certain to proceed when the parties have completed their negotiations, obtained all Barbados regulatory approvals (including approval from the Fair Trading Commission) and satisfied certain conditions.
This Notice is published pursuant to Section 60(3) (a) of the Securities Act, Cap. 318A of the laws of Barbados, as amended.
Dated June 30, 2017
On behalf of the Board of Directors
Marcio Juliano Chairman