Maroc - NEWSDAY.CO.TT - A la Une - 24/Nov 20:19

Agostini CFO to step down at year’s end

Agostini's group chief financial officer (CFO) Nigel Campbell is set to step down at year's end, the company announced in a notice to the TT Stock Exchange. Campbell leaves office on December 31, company secretary Nadia James-Reyes Tineo said in a statement on November 24. The notice did not say who would replace Campbell, only that the chairman and board thanked him for "his service and contribution to the group, as head of the group's finance function and member of the executive." Campbell has been CFO for 20 months having been appointed on February 1, 2024 replacing Barry Davis who was promoted to chief executive officer. A notice on December 6, 2023, said Campbell had joined Agostini from an energy company where he had been the CFO and was a finance executive for more than 30 years. Campbell's resignation comes as Agostini is in a protracted merger bid for Prestige Holdings. Agostini, on November 18, announced its fifth extension of the closing date of a share-swap offer to January 20 pending regulatory approvals, including a merger application currently before the TT Fair Trade Commission. Shareholders are being offered one Agostini share for every 4.8 Prestige share. Agostini will take up and pay for all company shares deposited and not withdrawn under the offer within the period required by securities law. The offer was first given a closing date on July 20. Agostini then extended the closure of the offer from July 21 to August 5. Agostini extended the deadline from August 5 to September 5. It made a third extension from September 9 to October 21. On September 10, Agostini announced it had obtained the minimum target shareholding required to facilitate the merger. However, in October, Agostini issued a fourth extension to November 18. The post Agostini CFO to step down at year’s end appeared first on Trinidad and Tobago Newsday.