Monday, January 22, 2018

US$2.35 a share is fair*

...but make no recommendation


FOUR independent directors of Guardian Holdings (GHL) have accepted a fairness opinion that the offer of US$2.35 a share by the NCB Financial Group (NCB) for a majority stake in the Westmoorings-based financial services company “is fair from a financial point of view to the shareholders” of the local company. The fairness opinion—upon which the independent directors of GHL based their decision—was conducted by Broadspan Capital, a Miami-based investment advisory firm and is dated December 20. Apart from Broadspan Capital, the law firm of MG Daly & Partners, attorneys-at-law was retained “to assist the committee in the execution of its mandate.” 

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