GHL announces agreement with the IFC

On Friday, May 21, 2010, Guardian Holdings Limited (GHL) announced that the International Finance Corporation (IFC) a member of the World Bank Group, had reached an agreement with GHL to invest US $75 million (TT$473 million) in the common equity of the Group at a price of TT$16 per share.

GHL had advised then that the agreement was subject to the approval of the Board of Directors of IFC and the Shareholders of GHL. Since then IFC African, Latin American and Caribbean Fund, LP, a fund managed by a wholly-owned subsidiary of IFC (the Fund) has agreed to participate in the transaction. GHL is pleased to announce that the transaction has been approved by the respective boards of directors of GHL and IFC and by the investment committee of the Fund and transaction documents have been executed by all relevant parties. The next step in this transaction is the securing of the approval of the GHL Shareholders.

The Directors of Guardian Holdings Limited have fixed September 1, 2010 as the date of a Special Shareholder Meeting which will be held at 4:30 in the afternoon at the Guardian Corporate Centre, 1 Guardian Drive, Westmoorings, Trinidad. Formal notice of the meeting will be sent to shareholders on the Register of Members as at August 16, 2010 which has been fixed as the record date for the issue of this Notice of Meeting. The Register of Members will therefore be closed on August 16, 2010 to arrange for issue of the Notice of Meeting.