And before we close tonight, some news from Barbados which could affect things at the Citrus Company in Belize. "Barbados Today" reports that Banks Holdings which owns 47% of the Citrus Products Of Belize Limited could be at risk for a takeover.
Seems the company has taken the decision to issue shares to finance a new brewery - and that has put its fate somewhat in the hands of Latin Capital Fund and SLU Beverages Limited.
According to "Barbados Today", they are providing $53 million in the form of a Convertible Debt Purchase Agreement for financing of a new brewery.
Further to that, on June 25 of 2010 Banks Holdings "issued secured convertible promissory notes" worth $28 million to SLU, under that agreement and the funds were converted into more than 13.2 million shares.
The interpretation being taken by skeptics is that the moves make Banks vulnerable to a takeover bid. No telling yet how that would affect Citrus Products of Belize if it were to happen - but right now it's just a possible scenario.
Banks has been consistently at odds with the majority shareholder the Citrus Growers Associaiton.
