Caribbean Investment Holdings Ltd Proposed Continuation to BVI (1143J)

TIDMCIHL

RNS Number : 1143J

Caribbean Investment Holdings Ltd

07 April 2020

This announcement contains inside information.

CARIBBEAN INVESTMENT HOLDINGS LIMITED - PROPOSED CONTINUATION TO THE BRITISH VIRGIN ISLANDS

Belize City, Belize, 7 April, 2020 -- Caribbean Investment Holdings Limited (London - AIM: CIHL; Bermuda - CIHL) (the "Company" or "CIHL").

The Board of CIHL regularly reviews the optimum structure of the Company and its subsidiaries (the "Group"). It announces today that it is exploring the continuation of the parent holding company of the Group, from Belize to the British Virgin Islands (the "Continuation") because it believes that the British Virgin Islands offers a more appropriate holding company environment for CIHL.

The Board will provide further details of the proposed Continuation in due course, which is anticipated to complete, should it proceed, in late April 2020.

There can be no certainty that the proposed Continuation will occur. However, should the proposed Continuation become effective it is expected that the Company will have a new ISIN, which will be VGG1991M1032. Should the Continuation occur it is expected that the new ISIN will be effective from 21 April 2020.

The Group's business would not change as a consequence of the Continuation and there would be no change to the Company, the Board of Directors, or the Group's assets and liabilities, should the Continuation proceed. The Company would maintain its quotation on AIM and the Bermuda Stock Exchange following the Continuation.

For further information contact:

Caribbean Investment Holdings Limited

   UK                                           [phone] 
   Belize                                      [phone] 

Cenkos Securities plc

   Nicholas Wells                        [phone] 

Note: This and other press releases are available at the Company's website: http://www.cihltd.co.

Background Information

Caribbean Investment Holdings Limited ("CIHL") is a parent holding company with no independent business operations or assets other than its investments in its subsidiaries, intercompany balances and holdings of cash and cash equivalents. CIHL's businesses are conducted through its subsidiaries. The Belize Bank Limited ("BBL") is incorporated and based in Belize and focuses on the provision of financial services and lending to domestic clients. Belize Bank International Limited is incorporated and based in Belize and focuses on the provision of financial services and lending to international clients. CIHL also owns an international corporate services business based in Belize, which operates as Belize Corporate Services Limited. Within Belize, BBL is one of the largest, full service commercial and retail banking operation with a head office in Belize City and eleven branches extended into each of the six districts of Belize. The principal operations of BBL are commercial lending, consumer lending, deposit taking and related banking activities.

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April 07, 2020 11:23 ET (15:23 GMT)