27th Dec 2006 07:01
Barclays PLC27 December 2006 27 December 2006 BARCLAYS PLC Barclays sells shares in FirstCaribbean to CIBC Further to its announcement on 28th June 2006, Barclays Bank PLC ("Barclays")today announced it has sold 599,401,230 ordinary shares in FirstCaribbeanInternational Bank ("FirstCaribbean") as part of its planned disposal of its43.7% shareholding in FirstCaribbean to Canadian Imperial Bank of Commerce("CIBC"). The amount payable by CIBC, totalling approximately US$ 989 million, has beensatisfied entirely in cash. Barclays intends, but is not obliged, to tender its remaining 66,600,137ordinary shares in FirstCaribbean in the subsequent mandatory offer to be madeto all shareholders in FirstCaribbean. - ENDS - For further information please contact: BarclaysInvestor Relations Media RelationsJames S Johnson / Karen Menzel Robin Tozer+44 (0) 20 7116 2927 / 2929 +44 (0) 20 7116 6586 CIBCInvestor Relations Media RelationsJohn Ferren Rob McLeod+1 416 980 2088 +1 416 980 3714 About BarclaysBarclays PLC is a major global financial services provider engaged in retail andcommercial banking, credit cards, investment banking, wealth management andinvestment management services. We are one of the largest financial servicescompanies in the world by market capitalisation. With over 300 years of historyand expertise in banking, Barclays operates in over 60 countries and employsaround 120,000 people. We move, lend, invest and protect money for over 25million customers and clients worldwide. About CIBCCIBC is a leading North American financial institution with more than 11 millionpersonal banking and business customers. CIBC offers a full range of productsand services through its comprehensive electronic banking network, branches andoffices across Canada, in the United States and around the world. About FirstCaribbeanFirstCaribbean has over 3,400 staff, 100 branches and banking centres, andoffices in 17 countries comprising: Anguilla, Antigua, The Bahamas, Barbados,Belize, The British Virgin Islands, The Cayman Islands, Curacao, Dominica,Grenada, Jamaica, St Kitts & Nevis, St Lucia, St Maarten, St Vincent and theGrenadines, Trinidad & Tobago and The Turks & Caicos Islands. The bank hasapproximately 780,000 active accounts. DisclaimerThe announcement contains certain forward-looking statements within the meaningof Section 21E of the US Securities Exchange Act of 1934, as amended and Section27A of the US Securities Act of 1933, as amended, with respect to certain of theBarclays plans and its current goals and expectations relating to the potentialtransaction described above. By their nature, forward-looking statements involverisk and uncertainty because they relate to future events and circumstances,including, but not limited to, domestic and global economic and businessconditions, market related risks such as changes in interest rates and exchangerates, the policies and actions of governmental and regulatory authorities,changes in legislation and the impact of competition, a number of which arebeyond Barclays control. As a result, the actual future results may differmaterially from the plans, goals and expectations set forth in theforward-looking statements. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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