A total of 251,353,562 First Citizens Bank shares will be de-listed from the T&T Stock Exchange Ltd from Monday.
The de-listing is pursuant to an Order of the Securities and Exchange Commission dated October 11, 2021 made under Section 45(1) and 45(2) of the Securities Act, Chapter 83:02
“The Order was granted pursuant to an application for the de-listing, which was made by the Exchange as part of FIRST’s corporate legal restructure of the First Citizens Group. The corporate restructure of the legal entities within the First Citizens Group was approved by shareholders of FIRST at an Annual General Meeting held on June 30,” a notice from the T&T Stock Exchange stated.
In addition to the de-listing of the existing FIRST shares, the approved corporate legal restructure allowed for the establishment of a new holding company named First Citizens Group Financial Holdings Ltd (FCGFH).
The subsequent issuance of new ordinary FCGFH shares will be done at a ratio of 1:1 to shareholders.
“Accordingly 251,353,562 FCGFH shares will be listed on the Exchange effective Monday, October 18, 2021. The shareholders of FIRST will therefore hold shares in FCGFH in the same proportions that they held in FIRST,” it stated