Executive Chairman of Mayberry Investments, Christopher Berry, is denying reports of his company’s involvement in a hostile take over of gaming company Supreme Ventures Limited.
Reports on the weekend suggested that Mayberry Investments and the Trinidad based, Zodiac International, were seeking to take control of Supreme Ventures.
But speaking this afternoon at a media briefing at the Liguanea Club in St Andrew, Mr. Berry says this is not so.
Mayberry Investments brokered the acquisition of Intralot Caribbean Ventures Limited, by Zodiac for $6.6-billion.
ICVL previously controlled nearly half of the shares of Supreme Ventures Limited.
Speaking at today’s media briefing, Mayberry Investment’s Chief Executive Officer, Gary Peart, says Zodiac’s stake has now been reduced to just under 40-percent. He says the difference was used to settle the almost $7-billion transaction.
Meanwhile, Mr. Berry says Paul Hoo will remain as Chairman of Supreme Ventures. It was previously reported that Mayberry Investments and Zodiac were attempting to replace Hoo and six other directors.
This was, reportedly, to be done at an Extraordinary General Meeting demanded by Mayberry Investments. But Mr. Berry says those plans are now under review.
The Board now comprise 12 members up from 11. It now has three new members. Two members from Intralot resigned last week.
Mr. Berry says speculation over the reported acquisition has caused major disruption in Mayberry, Supreme Ventures and the society.