Agos­ti­ni Lim­it­ed has an­nounced a third ex­ten­sion to the clos­ing date of its on­go­ing takeover of­fer for Pres­tige Hold­ings Lim­it­ed (PHL), push­ing the dead­line to Oc­to­ber 21, 2025.

This fol­lows pre­vi­ous ex­ten­sions in Ju­ly and Au­gust and comes as the com­pa­ny awaits key reg­u­la­to­ry ap­provals, in­clud­ing clear­ance from the Trinidad and To­ba­go Fair Trade Com­mis­sion.

The of­fer, orig­i­nal­ly made in June 2025, in­volves Agos­ti­ni seek­ing to ac­quire up to 62,513,002 com­mon shares in Pres­tige Hold­ings, ap­prox­i­mate­ly 100 per cent of the com­pa­ny’s is­sued and out­stand­ing shares.

Un­der the terms of the of­fer, PHL share­hold­ers would re­ceive one Agos­ti­ni share for every 4.8 shares in Pres­tige Hold­ings ten­dered.

Ac­cord­ing to a no­tice on the T&T Stock Ex­change is­sued by Agos­ti­ni yes­ter­day, the terms and con­di­tions of the of­fer re­main un­changed, with no ma­te­r­i­al amend­ments be­yond the ex­ten­sion of the clos­ing date. The of­fer will now re­main open for ac­cep­tance un­til 4 pm on Oc­to­ber 21, 2025.

Agos­ti­ni in­di­cat­ed that the ex­ten­sion al­lows ad­di­tion­al time for PHL share­hold­ers to con­sid­er and par­tic­i­pate in the of­fer.

It al­so pro­vides time to se­cure all reg­u­la­to­ry clear­ances, par­tic­u­lar­ly in re­la­tion to merg­er ap­proval from the Fair Trade Com­mis­sion.

The of­fer cir­cu­lar and all sup­ple­men­tal no­tices, in­clud­ing this lat­est ex­ten­sion, have been is­sued and filed with the Trinidad and To­ba­go Se­cu­ri­ties and Ex­change Com­mis­sion (TTSEC).

How­ev­er, in keep­ing with reg­u­la­to­ry pol­i­cy, the TTSEC has nei­ther ap­proved nor dis­ap­proved the of­fer and has stat­ed it takes no re­spon­si­bil­i­ty for the va­lid­i­ty of the con­tents of the cir­cu­lar or the no­tice.

Un­der se­cu­ri­ties law, Agos­ti­ni is re­quired to take up and pay for all shares ten­dered and not with­drawn with­in ten days of the clos­ing date, pro­vid­ed that all con­di­tions of the of­fer are met or waived.

As such, pay­ment to par­tic­i­pat­ing share­hold­ers is ex­pect­ed to be made no lat­er than ten days fol­low­ing the new­ly ex­tend­ed clos­ing date.

The of­fer al­so re­it­er­at­ed that share­hold­ers re­tain the right to with­draw any shares de­posit­ed un­der the terms out­lined in the orig­i­nal of­fer cir­cu­lar, which re­mains in full ef­fect.

Agos­ti­ni re­mind­ed in­vestors that the of­fer is be­ing made in T&T, and any dis­tri­b­u­tion of the of­fer doc­u­ments out­side of the coun­try may be sub­ject to le­gal re­stric­tions.

Per­sons in re­ceipt of such ma­te­ri­als are ad­vised to fa­mil­iarise them­selves with, and com­ply with, the laws of those ju­ris­dic­tions to avoid any le­gal vi­o­la­tions.

The no­tice was signed by group CEO, Bar­ry Davis, group chief fi­nan­cial of­fi­cer, Nigel Camp­bell and di­rec­tors Reyaz Ahamad and Nicholas Sinanan.