Tag: Cayman National Bank
KMPG finds Republic’s offer on CN shares ‘inadequate’
(CNS): The Cayman National Board of Directors has told shareholders that they need to decide for themselves whether or not to accept an offer made by Republic Financial Holdings Limited to buy the remaining 25% of the bank. But the board noted that a fairness opinion prepared by KPMG found that the offer of $7.75 […]
RFHL makes bid for full takeover of CNB
(CNS): Republic Bank Trinidad & Tobago (Barbados) Limited (RBTTBL), which is owned by Republic Financial Holdings Limited (RFHL), is making a bid for ownership of the whole of Cayman National Bank. Last week, RFHL announced its intention to make an all-cash conditional offer to acquire all of the outstanding ordinary shares of Cayman National and […]
Bill paves way for immunity deals for crown witnesses
(CNS): The government is expected to pass a piece of legislation next month that will enable the Office of the Director of Public Prosecutions (ODPP) to cut deals with important witnesses who are implicated in a crime and provide immunity from prosecution or a commitment to a reduced sentence on a guilty plea. Currently, the […]
Hacktivists target CNB in Isle of Man
(CNS): Cayman National Bank has announced that its subsidiaries in the Isle of Man were hacked by a well known hacking group on Sunday. Although the bank has not named that group, it appears from European media that it was Phineas Fisher, an infamous, anti-capitalist vigilante hacker group that targets banks and other major corporations […]
Republic to retain status quo at Cayman National
(CNS): Nigel Baptiste, the president of Republic Financial Holdings Limited, which acquired a majority shareholding in Cayman National Corporation Limited this year, has said that it will be maintaining the local bank’s brand and keeping its management and staff in their jobs. In a recent press release he claimed the acquisition was a model for […]
Cayman National sale to Republic done-deal
(CNS): Republic Financial Holdings Limited (RFHL) has completed its controversial acquisition of Cayman National Corporation Ltd, having purchased the equivalent of 74.99% of the once wholly Caymanian-owned bank at US$6.25 per share. The transaction cost the Trinidad-based bank just under US$198.5 million, according to a press release. Republic has said that all of the current […]
Ex-bank boss sues for wrongful dismissal
(CNS): Ormond Williams, who was president of Cayman National Bank for more than 15 years before he was unexpectedly fired by its board of directors last November, has filed a legal claim in the Grand Court for wrongful dismissal. According to the court documents, Williams said he was sacked without “proper legal justification” and is […]
Former chairman’s daughter takes over bank
(CNS): Janet Hislop has been appointed as President of Cayman National Bank, pending regulatory approval. Hislop, who takes up her position with CNB after eleven years as the chief officer of Deutsche Bank (Cayman)Â Limited, has a deep connection to Cayman National, as her father, Benson Ebanks, was a founding shareholder and chairman of the board.
Bank denies any genuine counter-offer
(CNS):Â Cayman National Corporation Ltd has stated that the bank has not received any legal or real offer to purchase its shares other than the deal it has made with Republic Bank Trinidad and Tobago (Barbados) Limited. Although a minority of the shareholders claim that they have pulled together a consortium that would see the bank […]
Cayman National board fires 15-year president
(CNS) UPDATED: The president and chief executive of Cayman National Corporation, Stuart Dack, has said that the termination of Ormond Williams, who has been the president of Cayman National Bank for more than 15 years, was a decision by the CNB board of directors and was unrelated to the potential sale of a majority shareholding […]
Cayman National sells off 54% of stock
(CNS): The Republic Bank of Trinidad and Tobago (Barbados) Ltd has bought a majority share in Cayman National Corporation just over two months after it made an unsolicited offer. An announcement from Republic said that at the end of business on Friday it had received notice from Cayman National that shareholders were willing to sell more than […]
