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Thursday, March 28, 2024

World Down Syndrome Day

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BTL?s 17th AGM at the Princess tonight!!

GeneralBTL?s 17th AGM at the Princess tonight!!


Some big names that have sold to Mercury include Santiago Castillo Limited; MacMillan Brothers; Nestor Vasquez; Lois Young Barrow; Vernon Harrison, Audrey and Derek Courtenay; Karl H. Menzies; Ediberto Tesucum; Jose Mena; Manuel Amadeo Esquivel and Kathleen Esquivel.


The Castillos, for example, sold almost $4.8 million worth of shares to Mercury last December.


Who turns up to the meeting is important because some of these shareholders have been known to be more vocal than others. 200 plus Belizeans sold over $15 million worth of shares to Mercury last December, and in March sold 100% of their holdings or just a portion.


It is expected that BTL?s financials will be a central point of discussion at the meeting. The latest audit for the year ended March 31, 2005, shows a profit of a mere $2 million, down 89% from the previous year.


BTL?s financials claim that there were $27 million of ?extraordinary expenses? charged against BTL?s books, including $21 million for Intelco-related expenses and $6 million missing after a failed foreign exchange transaction in which BTL handed over Belize dollars for US dollars which it did not receive.


Dividends will be declared at tomorrow?s AGM, but will likely be miniscule, if anything at all, since company profits are down to a trickle.


At the last AGM, Jeffrey Prosser, an American entrepreneur, was the BTL chairman, but Ashcroft has now returned to control BTL.

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