The 55th ANNUAL GENERAL MEETING of Shareholders of the ANTIGUA COMMERCIAL BANK was held at the City View Hotel situated at Newgate Street, St. John’s, Antigua on Thursday the 19th day of April, 2012.

At the Meeting, Mr. Michael Roberts, Mr. Philip Harris and Ms. Mavis George were re-elected as members of the Board of Directors. Ms. Lorraine Headley was also elected to serve on the Board.

Ms. Headley, our newest Board member, holds a Bachelor of Arts in Mathematics and Economics and a Masters in Business Administration with a focus on tourism management. She is a tourism and marketing professional with over 15 years experience in the travel industry and is the Managing Director of Gee Gee Consulting.

The present members of the Board of Directors of Antigua Commercial Bank Ltd. are:

  • C. Davidson Charles - Chairman
  • Gordon Derrick - Vice Chairman
  • Peter Blanchard - Vice Chairman
  • Michael Roberts - Vice Chairman
  • Philip Harris
  • Craig Walter
  • Alincia Williams-Grant
  • Mavis George
  • Daryll S. Matthew
  • Lorraine Headley

The Shareholders approved the payment of a final dividend of 30 cents for each unit of share for the financial year ended September 30, 2010.

A Special Resolution to increase the maximum number of shares the Company is authorized to issue from 5 million ordinary shares to 150 million ordinary shares was also approved by Shareholders. PricewaterhouseCoopers were re-appointed as the Group’s External Auditors for the year ended September 30, 2011.

The ANTIGUA COMMERCIAL BANK GROUP maintained its strong financial position with total assets in excess of $834 million as at September 30, 2010 and realized a net profit for that year of EC$14.4 million. ACB MORTGAGE AND TRUST COMPANY LIMITED, the Bank’s wholly- owned subsidiary, continued its good performance within the Mortgage Industry. The Trust Company ended fiscal 2010 with assets in excess of $236 million and a net profit of $4.2 million.

BY ORDER OF THE BOARD

Rhodette Page
Legal Counsel/Corporate Secretary