Stock Exchange suspends BWIA shares
THE TRINIDAD and Tobago Stock Exchange (TTSE) yesterday advised the population that it has suspended trading in the shares of BWIA for three months, effective immediately. In a statement, the TTSE said the decision was taken because of a request made by BWIA’s board of directors in order to facilitate the airline’s restructuring process. In presenting the 2005/2006 Budget in Parliament on September 28, Prime Minister Patrick Manning announced that BWIA would be restructured into a regional carrier, with regional governments and private sectors being given the opportunity for equity participation in the new airline. The decision to restructure the airline was taken after a directive from Manning in December 2004 for BWIA’s board of directors to develop long-term plans for BWIA’s viability. Businessman Arthur Lok Jack, who headed the task force to guide BWIA’s transformation, has since been appointed the airline’s new chairman.
Comments
"Stock Exchange suspends BWIA shares"