The Trinidad and Tobago Stock Exchange Ltd.

11/07/2018 | Press release | Distributed by Public on 11/07/2018 13:38

Republic Financial Holdings Limited - Update in respect of Republic Bank Trinidad and Tobago (Barbados) Limited's Partial Offer for the ordinary shares of Cayman National Corp Ltd.

Update in respect of Republic Bank Trinidad and Tobago (Barbados) Limited's ("RBTTBL") Partial Offer (the "Partial Offer") for the ordinary shares of Cayman National

Corporation Ltd. ("Cayman National")

GRAND CAYMAN, CAYMAN ISLANDS; 30 October 2018: Republic Bank Trinidad and Tobago (Barba-dos) Limited (RBTTBL) refers to its partial offer circular dated 14 September 2018 (the "Partial Offer Circular") in relation to its proposal to acquire a minimum of 51% and up to 74.99% of the ordinary shares of Cayman National by way of a tender offer to Cayman National shareholders at an offer price of US$6.25 per Cayman National share.

RBTTBL is pleased to announce that, as of the end of business on Monday, 29 October 2018, it has received acceptances for a total of 31,961,853 ordinary shares of Cayman National, repre-senting 75.47% of the ordinary shares. As RBTTBL has now received acceptances in relation to more than 74.99% of the ordinary shares, the total number of ordinary shares to be taken up by RBTTBL from each accepting shareholder will be determined in accordance with the formula found on page 5 of the Partial Offer Circular, which is available athttps://cncshares.ky. The consummation of the Partial Offer remains subject to certain other conditions including, without limitation, receipt of necessary government and regulatory approvals and shareholder approval at the Extraordinary General Meeting of the shareholders of Cayman National to be held on 7

November 2018 to amend Cayman National's Articles of Association.

Shareholders who wish to accept RBTTBL's Partial Offer and who have not submitted their completed Form of Acceptance must tender their shares by completing the Form of Acceptance provided to all shareholders, and which is available also athttps://cncshares.ky. Shareholders who do not wish to accept RBTTBL's Partial Offer need not take any action.

The Partial Offer is scheduled to expire at 5:00 pm on Monday, 12 November 2018, unless ex-tended.

Update in respect of Republic Bank Trinidad and Tobago (Barbados) Limited's ("RBTTBL") Partial Offer (the "Partial Offer") for the ordinary shares of Cayman National

Corporation Ltd. ("Cayman National")

RBTTBL accepts responsibility for the information contained in this media release and, to the best of its knowledge and belief (having taken all reasonable care to ensure that such is the case), the information contained in this document is in accordance with the facts and, where appropriate, that it does not omit anything likely to affect the import of such information.

For further information, please contact:

Denise Gower

Fountainhead [email protected] +1 345 945 8188 +1 345 926 0187

###

Republic Financial Holdings Limited (RFHL) is the registered owner of all of the banks in the Republic Group - Republic Bank Limited, Republic Bank (Guyana) Limited, Republic Bank (Barbados) Limited, Republic Bank (Grenada) Limited, Republic Bank (Suriname) N.V., and Republic Bank (Ghana) Limited, as well as Republic Securities Limited and other subsidiaries.

Across these markets, RFHL offers an extensive range of banking services, including credit and debit card issuance and processing, leasing, trustee services, mutual fund and investment management, and merchant banking.