DTL Announced Intention to Make Take-Over Bid to Acquire 50.98% Stake in CFF

Caribbean Flavours & Fragrances Limited (CFF) has advised that Derrimon Trading Company Limited (DTL) on January 17, 2017 announced their intention to make a take-over bid to acquire 50.98% of the issued shares in CFF (or 45,841,911 ordinary shares in CFF), at a price of J$4.50 per stock unit to stockholders in Jamaica (the Offer). DTL will pay interest to CFF stockholders on shares tendered in response to the Offer at the prevailing weighted average six-month Treasury Bill rate of 5.561% from December 21, 2016 up to but excluding the date of settlement. DTL`s announcement indicates that the Offer is expected to open on January 20, 2017 and is expected to close on February 10, 2017. On receipt of the Offer, CFF`s Board of Directors will review the offer and thereafter issue a Directors` Circular to CFF`s stockholders with a recommendation as to how stockholders should respond.