1. When was BS&T formed? November 29, 1920 2. What subsidiary companies comprise the BS&T Group? BS&T's trading subsidiaries are: Agro-Chemicals, BCB Communications, Booth Steamship (B'dos) Ltd., BS&T International, Dacosta Mannings, Knights Limited, Magna Rewards Inc., Magna Rewards Jamaica, Magna Rewards St. Lucia, Magna Rewards Trinidad, Magna Rewards Caribbean, Peronne Manufacturing, Roberts Manufacturing, SBI Distribution, SP Musson & Son, Seawell Air Services, Super Centre Limited, United Insurance, Warrens Motors. BS&T's property holding subsidiaries are: Autodome Inc, Little Bristol, Sunset Crest Holdings, Warrens Realty, Wimcal Ltd. 3. What are the associate companies of BS&T? BS&T associate companies are: Almond Resorts Inc, Banks Holdings, BSL Holdings, Caribbean Airport Services, Casuarina Holdings, Gablewoods Supermart Ltd., Green Hill Investments, Lazy Lagoon Holdings, Medina Foods Inc., Signia Financial Group, Tower Hill Merchants Plc. 4. What is the difference between a subsidiary and an associate company? The main difference between a subsidiary and an associate company is that with a subsidiary, ownership in that company has to be in excess of 50 percent shareholding while with an associate company, ownership has to be at least 20 percent and less than 50 percent shareholding in the company. 5. How many persons are employed within the BS&T Group? Approximately 2500 6. Who is the current CEO? The current CEO is Mr. G. Anthony King 7. Who is the current Chairman? The current Chairman of the Borad of Directors is Mr. Bernard Dulal-Whiteway, who is also the Group CEO of the Neal & Massy Group 8. What is the relationship between BS&T and Neal & Massy? In November 1998, an agreement was forged between BS&T and Neal & Massy whereby each company would reciprocally invest 20 percent of their outstanding shares in each other. The rational for such an investment was based on the similarity of the business lines of both companies and the benefits that would be derived from the sharing of know-how and the creation of a strategic relationship. In 2003, BS&T decided to sell majority of its shareholding in Neal & Massy in order to significantly reduce its debt thereby strengthening its Balance Sheet and allowing it to pursue its expansion in other areas. The strategic link with Neal & Massy was however retained in that BS&T remained an Associate company of Neal & Massy. However, each company continued to be represented on each other's Board of Directors. Given the exceptional relationship that had been forged between the two Groups over a period of 10 years, and the opportunities that exist in and beyond the region for a strong Pan-Caribbean company, the Directors of both companies proposed a merger of the two Groups of Companies in May 2007, under a common share ownership. In August of 2007, in light of an unsolicited offer from another regional conglomerate to the shareholders of BS&T and injunctions filed by certain BS&T shareholders, which prevented the BS&T Board from convening a meeting of its shareholders to obtain approval of the proposed merger, Neal & Massy and BS&T agreed to terminate the merger. Neal & Massy subsequently made a take-over offer for 100 percent of the shares of BS&T. A bidding war ensued, with several counter-offers being made by the two bidding conglomerates. The response to the Neal & Massy offer for BS&T was overwhelming and Neal & Massy proceeded with the completion of its take-over bid, which was temporarily halted by Cease Trade Orders by the Barbados Securities Commission and legal action by other parties, to acquire 97.1 of the outstanding shares of BS&T. As a result, BS&T became a subsidiary of Neal & Massy. 9. Is BS&T still a publicly listed company? Yes, as there are still minority shareholders in BS&T despite the acquisition of BS&T by Neal & Massy. Three (3) percent of the outstanding shareholders of BS&T did not tender their shares to the Neal & Massy take-over offer. 10. Can one still buy shares in BS&T? As long as there is a willing seller and buyer, there is no barrier to prevent trading in BS&T shares.