Caribbean Investment Holdings Limited (AIM:CIHL) (“CIHL”) agreed to acquire 17.22% stake in Normandy Ltd for £0.02 million on June 5, 2020. As part of the consideration, Normandy shareholders will be allotted and issued 2 New CIHL shares for every 11 Normandy shares registered in their name. Following completion of the acquisition, Normandy Shareholders will collectively hold up to 35.77 million New CIHL shares, equivalent to approximately 36.1% of the existing issued share capital of CIHL. The transaction is subject to the articles of merger being registered with the registrar of corporate affairs in the British Virgin Islands, which will occur once CIHL and Normandy have received approval from the Bermuda Stock Exchange (BSX) for the cancellation of admission to trading on the BSX of the Normandy shares, and approval from Alternative Investment Market (AIM) and the BSX for the admission of the New CIHL Shares to trading on AIM and the BSX. The acquisition is conditional on the Normandy delisting becoming effective prior to the effective date. As of June 4, 2020, the transaction was approved by the majority shareholders of Normandy and CIHL. The transaction is expected to close on June 9, 2020. Nicholas Wells of Cenkos Securities plc acted as financial advisor to Caribbean Investment Holdings.