PM Announces Opportunity to Purchase Shares in Utility Companies

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Updated: September 22, 2015

One of the key objectives that the Barrow administration came into Government with was the goal to nationalise the utility companies in Belize.  That goal was achieved in recent years as the Government of Belize now owns the Belize Telemedia Limited and the Belize Electricity Limited.  With those checked off on the Barrow administration’s things to do, the Prime Minister announced yesterday, a move that would see the Belizean public having an opportunity to acquire shares while adding seats on the Board of Directors for the small shareholder for both utility companies.

DEAN BARROW

“For my administration, it is almost impossible to overstate the significance of the BEL and BTL settlements. After all, this has been for us, a kind of second sovereignty campaign. Now, after six years of struggle, those two fundamental Belizean assets are ours to have and hold forevermore. Government will be offering an additional 10% of the shareholdings in both companies to the Belizean public. In the case of BEL it will mean a seat on the Board for the small shareholders, and in the case of BTL it will mean a second seat for those small shareholders. Altogether then this will give a chance for citizens to help run the nationalized entities and perhaps even more important for them to share in the profits that both companies are making and will continue to make.”

This opportunity will see the establishment of a seat for the small shareholder on the Board of the Belize Electricity Limited and the addition of another small shareholder seat on the board of the Belize Telemedia Limited.