Daily Archives: January 6, 2010

WestJet special – Toronto to Barbados & Return – CAD$250.46 including ALL taxes! What are you waiting for?

Toronto, Chicago, Sudbury, Wisconsin… Come on down to Barbados!

As I write this I see that the forecast for next Sunday in Toronto Canada says minus 18C and snow. A little further north on the map is a town called Sudbury and it’s going to be minus 29C there. Oh baby! Brrrrrrrrr!

Not to be outdone, our American friends in Chicago are receiving up to a foot of snow with temperatures well below freezing. And at the Experimental Aircraft Association airfield in Oshkosh Wisconsin, our flying friends will be very warm on Sunday at a positively balmy minus 11C – which should help them dig out of the big snow storm heading their way on Thursday and Friday.

WestJet: Toronto to Barbados and return for less than the price of a couple of sushi dinners

Our old friends Hants, Dennis Jones and Adrian Loveridge were having a conversation this morning at BFP, and we learned from Adrian that a body can fly from Toronto to Bridgetown and return for $250 Canadian dollars including all taxes.

So we ask all our Canadian friends… What are you waiting for?

Here’s the conversation pulled from the comments section…

Hants says:

@ Dennis Jones

Sometimes I wonder if the overseas employees of the BTA and Barbados Consulates socialise with persons in North America.

Here in Ontario, every year when it gets to minus 10 with snow and ice on the ground like right now, people are booking Escapes to the Heat.

It is a simple equation. minus 10 equal plus 28.

A couple more weeks of this cold and I too might be joining the snowbirds on WestJet.

Adrian Loveridge says:

Hants,

Have you seen WestJet’s latest promotion.
Return flights from Toronto to Barbados on selected days of the week (January on) for CAD$250.46 including ALL taxes.

Cheaper than your heating bill!!!

Get on the plane.

Any rooms at Peach and Quiet?

Adrian and his wife run Peach and Quiet – a small, very special ocean front hotel on the southern tip of Barbados. Their place has won several awards from Trip Advisor, including “Travelers’ Choice – Best Bargain” for 2009. Fodor’s gave them another award in 2009 and says of Peach and Quiet in Fodor’s Caribbean guide, “Perhaps Barbados’s best-kept secret, this small seaside inn on the southeast coast is the sweetest deal we’ve found on the entire island.”

So how about it Adrian? Do you have any rooms left in January and February? Hants is freezing!

2 Comments

Filed under Barbados, Barbados Tourism, Tourism, Travel, Traveling and Tourism

Did Sagicor’s private placement of additional shares dilute the holdings of existing shareholders?

Update: Sagicor Shareholders’ assets were Diluted with zero notice!

Update posted Jan 7, 2010 05:30 GMT…

“In this instance, the private placement had the effect of diluting existing shareholders shares by four per cent of their previous holdings,”

Dodridge Miller, Sagicor Financial Corporation president and chief executive officer as quoted in Trinidad & Tobago Guardian Sagicor CEO explains Barbados transaction

Original Barbados Free Press article as published Jan 6, 2010 14:27 GMT

Sagicor recently issued an additional 11.7 million common shares to the National Insurance Board of Barbados via a private placement at a 5% discount to the trading price on the BSE at the date of the issuance. The number of new shares issued through the private placement amounts to 4.2% of the total number of shares in issue prior to the placement and raises approx. Usd. $20 million.

What surprises me is that this decision was never properly communicated to the existing shareholders; even out of courtesy. To date, I have received no explanation as to the purpose for which these funds have been raised nor the reason that a private placement was decided upon as opposed to a right issue, for example. Depending on the intended use of these proceeds this transaction could well dilute the holdings of the existing shareholders. Furthermore, the private placement takes place during what could only be described as ‘uncertain times’. For example, the Group has recently reported reduced profitability during its third quarter results and we have only just learned that the Chairman, Mr. Martins, has resigned after two and a half years.

My intention is not to cause alarm but rather to illustrate the lack of transparency that continues to hinder the development of the Region’s capital markets. I do have confidence in the current Board of Sagicor but this does not excuse them from communicating to their shareholders.

Submitted by an anonymous BFP reader. No fact-checking has been performed by BFP so caution is advised.

4 Comments

Filed under Barbados