The Barbados Stock Exchange (BSE) is closely watching developments at Almond Resorts Inc as news emerges that the company is likely to be delisted as the saga facing the financially troubled hotel group unfolds.
Hours after he announced the planned closure of Almond’s flagship property in St Peter, Almond Beach Village, Gervase Warner, president and chief executive officer of parent company Neal & Massy, said delisting was very possible.
The Trinidad and Tobago-based conglomerate got ownership of the hotel group when it gained control of Barbados Shipping & Trading (BS&T) in 2008 following a tough takeover battle with its main Trinidad rival ANSA McAL.
“Delisting is a reasonable approach but we will consult with the regulatory bodies,” Warner told the WEEKEND NATION.
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