Banks Brewery

Banks Holdings Limited (BHL) Board of Directors Fails to Direct Shareholders

First the Board of Directors of BHL issued a communication to shareholders not to make a decision in response to SLU’s offer of $4.00 until a valuation was completed. […]KPMG completed the valuation and determined the $4.00 was fair although market value was located at $5.20. In a surprise move the Directors of BHL in their most recent recent communication to shareholders advised that they will not advise whether to accept or reject the offer.

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38 Comments on “Banks Holdings Limited (BHL) Board of Directors Fails to Direct Shareholders”

  1. Lee October 20, 2015 at 9:17 PM #

    I decide whether to sell share holdings or real estate using a simple capitalization method:
    Say for instance I have 2,000 BHL shares and someone comes along and offers me Bds$4.00 cash for each share.

    I would check my records to see what dividend my shares have been yielding recently, and I see that last year – for the first time in many years BHL distributed Bds$ o.10 per share as a dividend, (That was the highest dividend distributed since 2010 when the board distributed Bds$0.12 cents per share) so my 2,000 shares yielded me Bds$ 200.00 last year.

    I was reasonably satisfied at that time the cheque arrived because the BHL report told me that my shares in the company were only worth Bds$ 2.59 which meant that I had earned Bds$200.00 from an investment of Bds$ 5,180.00 . . . a 3.8% interest, and this was more than what the banks were offering me for a term deposit.

    Now all of a sudden, I can sell my shares for Bs$ 4.00 apiece and I’ll have Bds$ 8,000.00 in cash to “play with”.

    I don’t get any fuzzy warm feeling from owning shares in a brewery – even if mine were purchase in 1955 in the original DHI Guyana Banks brewery by my dear aunt, God grant her rest. There are over 30,000 brewers of beer in the world today and the competition is murderous. From a consumer’s point of view, there’s nothing special in Banks beer and certainly a lot less to shout about in Deputy compared to other Caribbean brews. Even when filtered through meters of coral and then made almost inert with reverse osmosis, Barbados’ water is not what it used to be, so this is no longer a unique selling proposition for the brand. Anyway, Banks beer will still be on the shelf as the “beer of Barbados” for the easily pleased.

    So what will I do with Bds$ 8,000.00? Well, correct me if I’m wrong: the Central Bank’s Treasury notes are sold at a discount so that in five years, a placement of Bds$ 8,000.00 in Dr Worrell’s hands will turn into Bds$ 10,493.00 by 2020, meaning that it will have earned me Bds$ 2,493.00 or an average of Bds$ 499.00 per year (6.2%) !! Of course, if I can get a better rate anywhere else with the same low risk, I’ll consider diversifying.

    Then – if the current BHL board is still around undervaluing its shares at Bds$ 2.50, and the company has protected the primary brand’s value instead of cannibalizing its sales with Deputies and Angry Monkeys, I’ll be able to afford to come back in with double the amount of shares I had originally !!

    Banks beer and Bank’s HoldingsLtd. are not national institutions worthy of any adoration. Rather, they have been slow to reinvest in innovation and quality to our detriment. Of course, a smart trader will never accept the first offer on the table. Banks breweries recently started producing an excellent premium lager called Seven Strong Pale Lager (7%ABV) that might be used to drive share-prices way up past Bds$5.20 in the right hands – so, my advice to dear brew-haha brothers is: don’t be hasty but DO LET US MAKE A COUNTER OFFER rather than let BHL directors negotiate for us !!

    Like

  2. Counter punch October 20, 2015 at 11:05 PM #

    Lee you talk a long roll of shi*e, a charge of economic treason ought to be on the law books for farts such as you. Anthony King, Richard Cozier, Allan Fields alongside you deserve to be tarred and feathered for the Banks fiasco. No surprise Kensington Legacy Decaires and Elvin Sealy in the hogwash. Do you ingrates have the emotion to be ashamed?

    Like

  3. Goldteet October 21, 2015 at 8:29 AM #

    I love it when I see my old friends from Harrison College running tings. No matter dat dey running dem down and not up. De boy Tinks King, Ritchie Cozier and others. Tank wud be proud! God bless the old buildings on crumpton street.

    Like

  4. Bush Tea October 21, 2015 at 8:44 AM #

    LOL
    The usual suspects….

    Like

  5. Prodigal Son October 21, 2015 at 10:18 AM #

    When I heard the Trinidad vultures this morning promising that they would not change the Banks name if they got control……….I nearly spilled my cup of tea.

    Yeah right…….

    The credit unions are sitting on millions of dollars and we are always on BU talking about the white man and Trinidadians taking over Barbados and that black Barbadians are disenfranchised……………

    …………….Is this not the ideal time for black Barbadians who have so much money sitting down in the very Trinidadian owned bank to jump on this opportunity to keep Banks Barbadian?

    Just a thought!

    Like

  6. David October 21, 2015 at 10:32 AM #

    The credit union is not setup to acquire shares to compete with SLU and Ansa.

    What will prevent Ansa from employing the same strategy as Ambev i.e. push the flagship brand, bear in mind trademark rules prevent the exportation of Banks by Barbados.

    Why did Hadeed by all those shares?

    Like

  7. Bush Tea October 21, 2015 at 11:02 AM #

    @ David
    There are multiple methodologies that can be employed in the skinning of felines….

    The problem with the Credit Union is not how they are ‘set up’ …but in the quality of their leadership. These ‘leaders’ are selected in much the same way in which we selected Froon and stinkliar… the most popular and ‘likable’ shiite talker gets the most votes…

    People who can actually GET THINGS DONE don’t last long…

    Why can’t credit unions look into their membership and identify persons who already hold shares in public companies (and encourage others to buy strategically)….and then get THOSE persons together in an ‘influence block’?😉

    What happened to the kind of thinking that led to the creation of the insurance company?
    Where is the bank…?
    What happened to the supermarket?

    …there just is no vision….

    Like

  8. David October 21, 2015 at 11:20 AM #

    @Bush Tea

    Understand in theory what you are suggesting but giving financial advice which calls into question risk is a dangerous undertaking for a credit union?

    Like

  9. Carlos Bourne October 21, 2015 at 1:01 PM #

    David you seem to think the only model is that of the credit union. There are co-operative models that should work. The credit union movement lacks proper leadership and I am in complete agreement with Bushtea. When these foreign companies take over, three things happen. (1) Management changes to reflect new ownership- check Republic Bank. (2) Staff is retrenched and (3)the facility is closed. Check Dacosta Mannings Heywoods and soon JB’s. Barbadians lose out all the time. See Wildcoot’s article in Mondays Nation. A must read.

    Like

  10. David October 21, 2015 at 1:10 PM #

    The point BU is making has more to do with the wiggle room in the legislation to support a credit union risking members funds in a speculative venture. What you and Bush Tea are pushing is a different issue all together.

    Like

  11. Georgie Porgie October 21, 2015 at 1:16 PM #

    Goldteet October 21, 2015 at 8:29 AM #
    I

    Tank wud be proud THAT TWO STUPID WHITE BOYS WHO WERE DUNCY THEN AND STILL DUNCY NOW RUNNING THINGS? AND RUNNING THEM DOWN I DONT TINK SO!

    I DONT TINK THAT Tank wud be proud OF EITHER JOHN OR DARCY BOYCE EITHER

    DARCY IS THE BIGGEST DISAPPOINTMENT OF ALL- HE UNLIKE THE OTHERS WAS SUPPOSED TO BE BRIGHT.

    Like

  12. Well Well & Consequences October 21, 2015 at 1:36 PM #

    Many young people are learning that ‘bright’ does not mean intelligent, they may have an eidetic memory and can regurgitate at the speed at light, but when it comes to hands-on tasks, critical thinking and analytical skills, someone who never went to school has a better chance of possessing those skills.

    To make matters worse, in this day and age, degrees are useless unless you have a specialty.

    No one in Bim should be surprised if the minoritites on the island are duncies, they did not think they needed to focus on education to succeed when the majority treat them like all they need is a lighter skin tone to their own to be succesful, but that too shall change everything is evolving.

    Like

  13. Georgie Porgie October 21, 2015 at 2:35 PM #

    well well
    you are 100% correct—in this day and age, degrees are useless unless you have a specialty.
    here in the usa you have to have a PhD to teach MEDICAL TERMINOLOGY
    ever hear such BS?
    there are no batchelors , masters or doctoral courses in MEDICAL TERMINOLOGY
    you learn that by osmosis by reading
    a PhD in PSYCHOLLOGY means nothing pr se as there are so many branches of the specialty

    Like

  14. Well Well & Consequences October 21, 2015 at 3:05 PM #

    Damn GP, you can learn medical terminology from a medical transcription course that takes less than a year, in essence, you don’t need a professor to teach you that anymore.

    Things are evolving so much now that It’s taking the grad students from ivy league universities up to two years to find a job and that’s only if they are lucky, the only ones who seem to have their pick of the job market are the computer programmers with unique specialties; and that is in North America.

    Like

  15. Bush Tea October 21, 2015 at 3:42 PM #

    @ David
    You are letting the Credit Unions off too easily…
    To whom much is given, MUCH is expected….
    What risk what?!? …you are preaching the gospel according to Caswell…
    There is risk in crossing the street… you know that people like AC got driver’s licesnes??🙂

    When a national operation can amass gross assets of $1.5 billion, and brag about being staffed with largely degreed graduates …are you saying that a developmental investment in THEIR OWN MEMBERS INTERESTS … in the region of $10M would be anything but sound strategy?
    As Carlos Bourne says, the CO-OPERATIVE mechanism for such investments ALREADY exists in the form of productive Co-operatives – which can take on ANY business format from Agriculture, to taxis, to hotels, retail outlets, even electric utilities…

    Here is the REAL joke….
    Oriel Doyle – who was leading the CREDIT UNION SECTOR when it took off in growth and development (and who seems to have left for some unknown reason), is now the man back leading the PRODUCTIVE cooperative sector….
    It just seems that the black co-operatives MONEY sector is unwilling to lend support to the black productive co-op sector – probably for the usual petty, shiite, reasons that prevail in this brass bowl land….

    What do you wanna bet that Caswell knows the answers as to why there is no co-operation between these ‘brother’ co-op sectors….

    Like

  16. Well Well & Consequences October 21, 2015 at 3:47 PM #

    Lol!!!

    Like

  17. Georgie Porgie October 21, 2015 at 4:22 PM #

    well well
    you see dat policeman in this picture?

    http://www.nationnews.com/nationnews/news/73591/teenage-murder-accused-granted-bail

    its about 2o years now when this lad set out for work and saw a man loitering near his home close to the St James coast who was “known to the police”

    since he was a diligent policeman (he had won top cop that year) he diligently followed him and finally arrested him in possesion of a large quantity of illegal drugs

    unfortunately for him, the man who he apprehended was a relative of the COP at the time as well as the COP’S brother, who was also a high ranking officer

    dat policeman in the picture was subsequently harrased by police hierarchy and became the only officer to become top cop in a year and not be promoted to Sargeant

    when I left Bim 12 years ago he still was not promoted

    looks as though he is still a constable

    Liked by 1 person

  18. David October 21, 2015 at 5:43 PM #

    @Bush Tea

    Understand your point, really!

    The establishment + the brainwashing of a people will make the empowerment we need to go forward as a people very difficult. As always it is more about the how we make the leap.

    Like

  19. ac October 21, 2015 at 5:44 PM #

    Nice to here Bush shite tooting his own horn.. deputy dawg you too have license to talk yuh own shit

    Like

  20. Well Well & Consequences October 21, 2015 at 6:00 PM #

    GP……Par for tha course, that too will undergo a change, it has gone on for decades.

    Remember the canefield murders, if the culprit is not dead he is somewhere in Miami…….that type of corruption is not sustainable.

    They have refined the art of stagnating the careers of those who try to do the right thing, but in the end, the cancers, strokes and heart attacks come calling, don’t care what they do…lol

    Like

  21. de Ingrunt Word October 21, 2015 at 7:51 PM #

    @GP being facetious, the lesson for all of us to learn from your 4:22PM post is that the Bajan definition of diligence means ‘keep your eyes peeled for crooks who are NOT relatives of high ranking officers’.

    On a more serious note surely the powers can be nefarious indeed but if this diligent man passed his sergeants exams he could only be denied promotion for so long, I would hope. And then the Police Assoc. would surely be able to intervene on his behalf.

    But an interesting story.

    Like

  22. Georgie Porgie October 21, 2015 at 8:30 PM #

    MAN THE POLICE MEDICAL OFFICER IS A TRINIDADIAN WHOSE WIFE TOLD ME THAT NEITHER HE OR SHE LIKES THE POLICE OR THE WUK

    Like

  23. Artaxerxes October 21, 2015 at 9:03 PM #

    de Ingrunt Word October 21, 2015 at 7:51 PM #

    “On a more serious note surely the powers can be nefarious indeed but if this diligent man passed his sergeants exams he could only be denied promotion for so long, I would hope.”

    If this officer was in the “zone” for two years and was not promoted, he has to await another opportunity to be in the “zone” again to eligible for promotion. But for some officers, this is always not the case.

    When the DLP won the 2008 general election, a certain officer was seen celebrating in the company of certain “big up” DEMS at DLP headquarters.

    Soon after a specific politician was appointed in a “number two job” with general and legal proportions, this officer was promoted to Sergeant and assigned as his orderly.
    He was subsequently promoted to Station Sergeant when the “number two man” became “prime number (one)” and now performs body guard duties.

    And we have officers who are now fighting, through the courts, for promotion.

    Like

  24. Well Well & Consequences October 22, 2015 at 7:22 AM #

    This dude Hadeed, even if there is no law against it in Barbados, knows what he did is insider trading. It’s n

    The feds would have double teemed him for that. There is too much damn corruption in Barbados.

    It’s not like he did not know the shares were up for grabs, he was in on the meetings…..steupss

    Like

  25. Money Launderer October 23, 2015 at 6:41 AM #

    Why would I keep my shares in Banks Holding when a director offload his shares

    Like

  26. Never Again October 23, 2015 at 10:09 AM #

    Bizzy Williams as is his brother COW are laws unto themselves in this land these individual mouth off whatever they feel like and couldn’t care less who it offends. Multibillion government contracts for decades have insulated Bizzy financially giving him license to abuse and insult his government paymasters when the spirit moves him. He is quoted blaming Barbadians( black of course) for the sale of Banks to foreigners. Mind you Anthony King and Richard Cozier his brothers are the obvious culprits in the Banks sell out. He doesn’t criticize them he blames the population who happen to be majority black. The head boys at Banks get a pass.

    The said Bizzy gave a lame excuse for a white employee at one of his hardware stores who acted in a racist manner to a black Barbadian. In addition to that he did not fire the bigot. Bizzy predictably talked shit all over his face claiming the man is a model employee. Its beyond comprehension why successive governments empower Bizzy and his crowd with huge business deals. It has emboldened him to thumb his nose at the government and taxpayers and make the most biased statements. His bull shit quote in todays paper on BHL is a perfect example.

    Like

  27. Bush Tea October 23, 2015 at 10:45 AM #

    @ Never Again
    Bizzy is just reenforcing for all of us that he owns BOTH the BLP and the DLP shiite hounds… having (in his own words) brought them with generous bribes….

    Our current politicians are the WORSE set of low-life brass bowls imaginable…

    We are cursed…
    ..and it will only get worse…

    Like

  28. Hants October 23, 2015 at 10:48 AM #

    From the time we are in Primary school we are taught to “save for a rainy day.”

    The more educated we became we learned that buying stocks in a business on a Stock Market is a risk.

    The only people who should invest in stocks are those with extra “play money”.

    Let the well off Bajans play the stock market and the average Bajans continue to save their money for a rainy day.

    Any of you own Almond stocks ?

    Like

  29. Dompey October 23, 2015 at 11:29 AM #

    Georgie Porgie

    As someone who had had a close association with the Royal Barbados Police Force, given the place of my birth of course. I can say with much conviction that the police protect family and friends who have violated the laws of Barbados, so isn’t a phenomenal happenstance.

    I recall quite vividly, when a very notorious detective from the CID dead unexpectedly back in the latter part of the 1970’s. And his elder son started to rob tourists on the beaches of Barbados, but every time he would be arrested, his mother would come to District A police station and call on the Inspector of police who was a good friend of hers, and he would be released to do it all over again.
    But it wasn’t until this particular inspector of police did retired that there were finally able to arrest this former detective son, and jailed for the numerous offences he had committed against the visitors of Barbados. Now as I look back on this former detective son’s behaviour, I have concluded years later that his destructive and self-defeating behaviour was a direct resulted of the premature loss of his father.

    In conclusion: any police officer, whether in the States or in Barbados, ought to know that you cannot go against the Blue Wall of Silence, or be the whistleblower and then think that you will be welcome back amongst the corrupted lot with open arms.

    Like

  30. SuckaBubby October 23, 2015 at 12:18 PM #

    It dawned on me how Bizzy Williams have bajans by the balls when he hit his car at the Warrens roundabout and the government engineer had to get up off his backside to fix it.Bizzy Williams is a nincompoop scoundrel who dumpsy as ass.Man touted as real bright with his bogus ranting.No wonder he got a honourary degree from UWI.We like praising up shitehounds in this place too much.

    Like

  31. Well Well & Consequences October 23, 2015 at 2:42 PM #

    Honorary degrees are more likely to be given to the crminal element who have financially raped the island with the help of politicians, than to people who have actually done social work in the society.

    The question that should be asked is how much money Bizzy paid for the degree and what favors will be asked later.

    None of these self-possessed asses have come to the conclusion yet that no one on the island has any respect for them, those whose eyes are open realize that they never do anything in the best interest of the island itself or the majority population, it’s always about them and no one else.

    Like

  32. Gabriel October 23, 2015 at 5:31 PM #

    AmBev have increased their share offer to $5.60 “less SE fees”?.What is the offer?.I hope Ansa will take it to $7.00 although I would posit Ansa is buying to resell in a couple of years similar to what we are seeing with Columbus,CWC.

    Like

  33. ac October 23, 2015 at 5:44 PM #

    Bajans hate the truth bizzy said it straight up /my dad bless his soul bought shares in Banks brewery when in its growth years , if the price is right who the hell is any one to tell what i should or not do with them.
    Two things Bajans are well known for give nufff advice and usher plenty criticism.Neither of which is helpful or serve any real purpose

    Like

  34. Well Well & Consequences October 23, 2015 at 7:10 PM #

    And of course and idiot like AC will not know that there are rules and regulations governing the dumping of shares, particularly for employees of a company, particularly for directors of a company, try googling insider trading for more info.

    Why do you think the scamp immediately resigned from the company.

    Like

  35. ac October 23, 2015 at 7:39 PM #

    Look negro OK

    Like

  36. Well Well & Consequences October 24, 2015 at 6:15 AM #

    Lol

    Like

Trackbacks/Pingbacks

  1. Liberty Global might pull at CWC | Barbados Aboveground - October 22, 2015

    […] GOSH Man! De last few days have seen nuff M&A activity hitting close to home – Ambev or Ansa for Banks, a question of the lesser of two evils? – and it seems like we aint dun […]

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  2. M&A Activity on the Increase | Barbados Underground - October 23, 2015

    […] GOSH Man! De last few days have seen nuff M&A activity hitting close to home – Ambev or Ansa for Banks, a question of the lesser of two evils? – and it seems like we aint dun […]

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