Shareholding Analysis

SHAREHOLDER INFORMATION

SHARES

The following Shareholders own more than 5% and 3% respectively of the capital of the Company as at December 31, 2009:
 
Name Number of Shares Percentage
National Insurance Board, Barbados: 18,950,000 6.5
Republic Bank Limited - 1162: 10,998,300 3.8
 
 
The total number of common shares issued in 2009 was 12,547,767, of which 781,062 were issued on July 30, 2009 as vested restricted stock under the Long-term Incentive Plan for Executives (LTI). The remaining 11,766,705 shares were issued pursuant to a private placement to the National Insurance Board of Barbados. The total number of issued common shares as at December 31, 2009 was therefore 290,903,161 (2008: 278,355,394).
 
Tables 1 and 2 show grants of restricted stock and stock options as at December 31, 2009
under the LTI.
 
Table 1
RESTRICTED STOCK
Year Value - US$ Award Vested
2007, 2008
Vested 2009 Forfeited Balance
2007 2.01 424,610 339,689 72,884 12,037 0
2008 2.50 596,914 298,459 278,505 10,734 9,216
2009 2.50 674,828 0 331,449 0 343,379
2009 1.58 430,122 0 430,122 0 0
Totals 2,126,474 638,148 1,112,960 22,771 352,595
Less: allocated for settlement of tax:
 
(331,898)
Total converted to shares: 781,062

Table 2
STOCK OPTIONS
Year Exercise Price - US$ Award Vested
2007, 2008
Vested 2009 Total Vested Options Excercised Options Not Exercised Total Unvested
2006 1.98 932,387 466,194 233,097 699,291 120,443 578,848 223,096
2007 2.01 2,049,598 512,400 512,400 1,024,800 72,839 951,961 1,024,798
2008 2.50 1,422,949 0 355,737 355,737 0 355,737 1,067,212
2009 2.50 1,595,496 0 0 0 0 0 1,595,496
Totals 6,000,430 978,594 1,101,234 2,079,828 193,282 1,886,546 3,920,602

DIVIDENDS

An interim dividend of US 2 cents per share, approved for the half year ended June 30, 2009, was paid on October 15, 2009 to the holders of common shares and depositary interests whose names were registered on the books of the Company at the close of business on September 15, 2009. A final dividend of US 2 cents per share, payable on May 21, 2010, was approved for the financial year ended December 31, 2009 to the holders of common shares and depositary interests whose names were registered on the books of the Company at the close of business on April 21, 2010. The total dividend for the 2009 financial year amounted to US 4 cents per share.
 

ANALYSIS OF SHAREHOLDING

 
Number of Shareholders by Size of Holding as at December 31, 2009 (with 2008 Comparison)
Size of Holding Number of Shareholders Percentage of
Shareholders
Total Shares Held Percentage of
Shares Held
2009 2008 2009 2008 2009 2008 2009 2008
1 - 1,000 6,335 6,370 16.79 16.73 3,928,691 3,975,922 1.35 1.43
1,001 - 2,500 15,709 15,931 41.62 41.83 26,098,842 26,466,075 8.97 9.51
2,501 - 5,000 7,406 7,484 19.62 19.65 25,715,179 25,957,738 8.84 9.33
5,001 - 10,000 4,275 4,244 11.33 11.14 31,319,508 30,220,236 10.77 10.86
10,001 - 25,000 3,079 3,113 8.16 8.17 44,370,941 44,823,199 15.25 16.10
25,001 - 100,000 690 696 1.83 1.84 32,208,066 33,150,790 11.07 11.91
100,001 - 1,000,000 229 230 0.61 0.60 65,279,966 68,859,653 22.44 24.73
1,000,001 and over 17 15 0.05 0.04 61,981,698 44,901,781 21.31 16.13
Total 37,740 38,083 100.00 100.00 290,903,161 278,355,394 100.00 100.00


Number of Shareholders by Country of Residence and by Type as at December 31, 2009
Country

Directors, Management,
Staff, Advisors

Companies   Individuals          Total
Shareholders % Shareholders % Shareholders % Shareholders %
Trinidad and Tobago  45 21.98 503 59.32 16,082 43.83 16,630 44.06
Barbados 133 73.08 256 30.19 11,919 32.49 12,308 32.61
Eastern Caribbean 2 1.10 33 3.86 7,255 19.77 7,290 19.32
Other Caribbean 6 2.75 51 6.01 350 0.95 407 1.08
Other 17 1.10 5 0.59 1,083 2.95 1,105 2.93
Total 182 100.00 848 100.00 36,689 100.00 37,740 100.00


Number of Shareholders by Country of Residence and by Type as at December 31, 2008
Country Directors, Management,
Staff, Advisors
Companies Individuals Total
Shareholders % Shareholders % Shareholders % Shareholders %
Trinidad and Tobago 38 21.11 522 59.25 16,214 43.80 16,774 44.05
Barbados 127 70.56 254 28.83 12,074 32.61 12,455 32.70
Eastern Caribbean   3 1.67 34 3.86 7,314 19.76 7,351 19.30
Other Caribbean 8 4.44 66 7.49 359 0.97 433 1.14
Other 4 2.22 5 0.57 1,061 2.86 1,070 2.81
Total 180 100.00 881 100.00 37,022 100.00 38,038 100.00


Number of Shares by Country of Residence and by Type as at December 31, 2009
Country Directors, Management,
Staff, Advisors
Companies Individuals Total
Shareholders % Shareholders % Shareholders % Shareholders %
Trinidad and Tobago 524,267 10.00 44,912,819 51.29 105,512,632 53.25 150,949,718 51.88
Barbados 3,209,019 61.18 38,316,319 43.76 64,033,380 32.32 105,558,718 36.29
Eastern Caribbean 2,884 0.05 523,516 0.60 22,104,085 11.16 22,630,485 7.78
Other Caribbean 1,099,146 20.96 2,920,314 3.34 1,976,788 1.00 5,996,248 2.05
Other 409,861 7.81 890,354 1.02 4,511,160 2.28 5,811,375 2.00
Total 5,245,177 100.00 87,563,322 100.00 198,138,045 100.00 290,903,161 100.00


Number of Shares by Country of Residence and by Type as at December 31, 2008
Country Directors, Management,
Staff, Advisors
Companies Individuals Total
Shares % Shares % Shares % Shares %
Trinidad and Tobago 807,089 17.49 43,574,721 57.89 105,872,295 53.34 150,254,105 53.98
Barbados 2,849,167 61.73 24,938,635 33.14 12,246 32.96 12,605 32.02
Eastern Caribbean 3,711 0.08 525,215 0.70 7,390 19.89 7,427 19.45
Other Caribbean 796,717 17.26 5,336,260 7.09 365 0.98 422 1.10
Other 158,957 3.44 890,354 1.18 994 2.67 998 2.61
Total 4,615,641 100.00 75,265,185 100.00 37,159 100.00 38,177 100.00