Frandec proposes sale to Hand-in-Hand

Frandec & Company (Insurance) Inc. has proposed to sell all of its shares to the Hand-in-Hand Mutual Life Assurance Company Limited, the Bank of Guyana has announced.

The bank made the announcement via a published notice to inform Frandec’s policyholders of the prospective acquisition.

“Policyholders or other interested persons who may have objections to this transfer can make such objections in writing and have it delivered to the Insurance & Pensions Supervision Department at the Bank of Guyana building within (15) working days of the first publication of this said notice,” the notice, dated October 12 and signed by Deputy Governor Leslie Glen, states.

It adds that share sale and purchase agreement are open to examination by any interested person during normal business hours for a period of 15 working days from the date of the last publication of the notice at Frandec (Lot 92 Middle Street, North Cummingsburg, Georgetown) and at Hand-in-Hand (Lot 1-4 Avenue of the Republic, Georgetown).

Written objections are to be addressed to Ms Tracy Gibson, Director, Insurance & Pensions Supervision Department at the Bank of Guyana.