What is going on here?
Message from the Board of Directors of Almond Resorts Inc delivers a surprise!
A message published in the Nation and Barbados Advocate today, August 9, 2012, says that shareholders were asked to approve the sale of Almond Beach Club to Fairweather Holding Co., but it appears they were only acting as a nominee for Lazy Lagoon (Barbados) Ltd. This notice is the first time to my knowledge that Almond shareholders and employees heard that the purchaser was ‘Lazy Lagoon (Barbados) Ltd.’
Is this a newly formed company and where is it registered? I tried searching the CAIPO Corporate database but cannot find it.
Who are the shareholders of Lazy Lagoon (Barbados) Ltd and what is the commonality with Lazy Lagoon Limited which is as associate company of the Goddard Group (33 per cent sharholding) or Lazy Lagoon Holdings Limited an associate company of Neal and Massy Holidays Ltd (44.5 per cent shareholding)? Who now, are the owners/shareholders of Morgan Bay Hotel and Smugglers Cove, both in St. Lucia?
It would appear that this (possibly new) company, Lazy Lagoon (Barbados) Limited, has been allowed to purchase Almond Resorts at a knockdown price which may not be in the best interests of all the shareholders. The shareholders appear to have been misled when they were advised that Fairweather Holding Company (Elite Island Resorts) was purchasing the property.
I think questions have to be asked and answered.
Editor’s note: BFP made several major changes to the original article as submitted by Mr. Loveridge.