What Is Going On Here?

Adrian Loveridge – Hotel Owner

Message from the Board of Directors of Almond Resorts Inc – Published in the Nation and Barbados Advocate today.

Shareholders were asked to approve the sale of Almond Beach Club to Fairweather Holding Company, but it appears they were only acting as a nominee for Lazy Lagoon (Barbados) Ltd. Is this a nearly formed company and where is it registered? I have tried searching the CAIPO Corporate database but cannot find it.

Who are the shareholders of Lazy Lagoon (Barbados) Ltd and what is the commonality with Lazy Lagoon Limited which is as associate company of the Goddard Group (33 per cent shareholding) or Lazy Lagoon Holdings Limited an associate company of Neal and Massy Holidays Ltd (44.5 per cent shareholding).

Who now, are the owners/shareholders of Morgan Bay Hotel and Smugglers Cove, both in St. Lucia? It would appear that this (possibly new) company, Lazy Lagoon (Barbados) Limited have been allowed to purchase ABC at a knockdown price which may not be in the best interests of all the shareholders and were misled when they were advised that Fairweather Holding Company (Elite Island Resorts) was purchasing the property.

I think questions have to be asked.

0 thoughts on “What Is Going On Here?

  1. Neal & Massey……associate of associate….it will happen once the money players are the same…

  2. and then the BSE and Governmentr question why Bajans dont invest in companies. what sense does it make when time and again the Big boys trick the minority shareholders ( legaly ).

  3. Tedd, but is it legal?
    According to BusinessDictionary.com the definition of a ‘nominee company’ is a Company formed by a bank or other fiduciary organisation to hold and administer securities or other assets as a custodian (registered owner) on behalf of an actual owner (beneficial owner) under a custodial agreement.
    Who actually formed Lazy Lagoon (Barbados) Ltd?
    Was is the bank (Scotia), Almond Resorts Inc., or Neal and Massy Holdings Ltd?
    You are absolutely right about the lack of transparency in share ownership for small shareholders and until this changes, many will be reluctant to ‘invest’ their savings.

  4. anything goes in barbados..! if you got the money.
    like yourself really, getting to live here because you have money.
    same thing only different.

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