As Clico and CL Financial shareholders await budget statements on the future of the company’s assets, they’ve shelved initial scepticism and agreed in principle to Government’s proposed Sandals hotel development on their Golden Grove estate in Tobago.
Carlton Reis, representative of Dalco, the largest CLF shareholder, confirmed this after shareholders of both entities met Finance Minister Colm Imbert recently.
Reis, who said he also represents CLF majority shareholder Lawrence Duprey, said shareholders, including United Shareholders Limited (USL), have agreed on the hotel idea after receiving assurances about the return of several CLF companies.
He said the group will shelve previous concerns about the Tobago project on their estate and work with Government.
Clico’s subsidiaries, Occidental Investments Ltd (OIL) and Oceanic Properties Ltd (OPL), own the 600-acre Golden Grove estate, including the sand spit known as No Man’s Land which is at the centre of the Sandals plan. Tobago House of Assembly (THA) chairman Orville London, at last week’s consultation on the Sandals plan, assured that No Man’s Land and Nylon Pool would not be touched.
In May Duprey had said he would fight to keep the estate since he had been speaking with UK-European investors on a proposed $3 billion hotel development.
http://www4.guardian.co.tt/business/2016-09-27/clicoclf-shareholders-deal-likely-land-sandals