So in the next 48 hours, we should expect to see major changes at BTL
– along with the paroxysms of an enforced transition in ownership. Today
after the House sitting the Prime Minister discussed a few contingencies with
the media.
Hon. Dean Barrow, Prime Minister
“There will be a prospectus done after the new Board of Directors
takes over and the new articles of association have been adopted, shares will
be valued and offered for sale to the public. That offer will not be limited
to Belizeans. We are determined however and the new Articles of Association
that will be adopted will in fact oblige this, that ultimately Belizeans must
maintain at least a 51% ownership of the company that’s being taken over.”
Jules Vasquez,
“Sir is that realistic to say you cannot step into the same river twice,
you can’t step into the investment climate that prevailed in 1988, 21
years later and expect that strategic investors will not want to be the majority
shareholders. That means unrealistic.”
Hon. Dean Barrow,
“Well that’s your opinion and I suppose the events will prove
whether you are right or wrong but certainly as of now that is the clear intention
of the government and that is what the Articles of Association will in fact
prescribe.”
Jules Vasquez,
“Sir Mr. Finnegan said the decision was an agonizing decision. What made
it so? clearly you feel that it is the right thing to do so was it agonizing
because you know of the many intractable legal battles you are now invoking?”
Hon. Dean Barrow,
“But you are putting Mr. Finnegan’s words into my mouth. Did
I say that I was agonizing? If you ask me, I would say that of course long and
anxious thought had to be given to this and for some fairly obvious reasons.
One, Michael Ashcroft is nobody to lightly challenge, we know now that he will
do everything in his power to hurt Belize and that is our first concern. Certainly,
it will hurt the UDP with respect to the next election. He will spend every
last dime if he has to, to ensure a loss for the UDP. The need to reassure the
international community, the legitimate concerns about whether the signal that
the signal the acquisition sends is not one that could potentially be harmful,
all these things made the inputs into the final decision, inputs that had to
be made after exhaustive discussions and over a long period, but in the end
there was absolutely no doubt I believe in anyone’s mind that this was
what we needed to do.”
Later on, we’ll tell you how the Prime Minister also made an
offer to the family of Charles and Hirian Goode. |