Apr 2014 Financial News

Guardian Holdings Limited – Notice to Shareholders pursuant to section 64 (1) (b) of the Securities Act, 2012

Apr 01, 2014

The Group wishes to advise that it has recorded a fair value write down in respect of its property development project in Martinique (Pointe Simon), amounting to TT$457 million, of which TT$281 million was borne by equity shareholders. The diminution in value was based on an accredited valuator’s independent assessment of the amount and timing of, in particular, future income from rent and sales.

The write-down was approved by the Board of Directors in its meeting dated March 21, 2014.

The Group reported profits to equity shareholders of TT$46 million after recognising this expense and the write down is not expected to have an unfavourable impact on the Group’s financial condition. Further information on Pointe Simon and its prospects are included in my year-end Chairman’s statement.


Source:
The Trinidad and Tobago Stock Exchange Limited
Tuesday April 1, 2014