(CMR) In a media statement this afternoon Republic Financial Holdings has confirmed that they have acquired 22,934,246 ordinary shares of Cayman National – representing 54.15%.
They had originally indicated that they wanted to acquire at least 51% for the Partial Officer be accepted. It is now unconditional as to it's acceptances.
“The consummation of the Partial Offer remains subject to certain other conditions including, without limitation, receipt of necessary government and regulatory approvals.”
It further states that it wishes to acquire 74.99% of the ordinary shares and encourages shareholders who have not yet accepted to do so by submitting the online Form of Acceptance before October 22 at 5:00 pm when the Partial Offer expires.