PORT OF SPAIN, Trinidad, Friday April 15, 2016 – Trinidad Cement Limited (TCL) has announced that it has delisted from the Eastern Caribbean Securities Exchange (ECSE), as it seeks to cut costs, and will press ahead with plans to exit the Barbados Stock Exchange (BSE).
In a release issued earlier this week, the cement manufacturer advised that the ECSE had confirmed the delisting, effective March 1. TCL’s trading symbol was removed from the ECSE’s trading board and all securities were transferred to the Trinidad and Tobago Central Depository.
Explaining the reasons for delisting from the ECSE, TCL said trading volumes and frequency were minimal and cited “negative financial consequence of annual listing/maintenance charges required to be paid to the ECSE”.
TCL delisted from the Guyana Association of Securities Companies and Intermediaries Inc. (GASCI) at the beginning of this year, giving similar reasons – that trading volumes and frequency were minimal, there were no shareholders resident in Guyana, and the listing/maintenance costs.
In July last year, TCL said it would delist from several regional stock exchanges because it was incurring listing costs even though there was not much trading in its shares.
It will remain listed on the Trinidad and Tobago Stock Exchange and the Jamaica Stock Exchange.