Sell! That's what the committee of five has recommended to the ownership of Citrus Products of Belize Limited and the membership of the Citrus Growers Association. As we've reported, a Caribbean company, called Blue Water Investments wants to buy 47% of the company for $25 million.
A Committee of Five was set up to investigate the sale and 40 days later they reported their findings to the membership on Saturday. Well the Committee of Five's final recommendation is that they should sell if a number of recommendations, clarifications and undertakings are put into the agreement. That recommendation was approved by the general membership at the meeting, but that's not the end of it. The changes to the original sale agreement are in some cases significant, and it is left to be seen if the investor will accept them.
And how was the conduct of the meeting? Compared to the fiery session which preceded it on September 18th, it was calm, but that doesn't mean it wasn't full of contention coming mostly from principal opponents to the sale, Eugene Zabaneh and Denzil Jenkins.
