(Trinidad Express) The Govern-ment has hit a bump in its move to acquire CLICO’s shareholding of Home Construction Ltd (HCL).
HCL is indebted to majority State-owned First Citizens.
On March 28, CLICO’s executive chairman, Wendy Ho Sing, wrote to HCL’s corporate secretary on CLICO’s 19,504,500 shares in HCL.
“CLICO has been directed to transfer its HCL shareholding to GORTT (the Government), and accordingly, we are to sign over the share certificate as at the closing date. We accordingly request that you issue to us duplicate share certificates in respect of the CLICO shares in readiness for the transfer,” the letter said.
According to the letter, the shares should have been transferred by April 14.
