UTS to pay out NAf. 42 million | THE DAILY HERALD


 WILLEMSTAD–The payment of 42 million Antillean guilders to government by United Telecommunication Services (UTS) will take place pending the search for a strategic partner.

The latter can be deduced from a letter of October 9 that director Paul de Geus sent to the two shareholder representatives of Curaçao (87.5 per cent) and St. Maarten (12.5 per cent). The amount will be paid in three tranches.

This is based on a general shareholder’s meeting of September 11 in which it was agreed that the company would reserve that money in its books to be transferred once the prospective future co-owner has purchased part of the shares. However, the two countries apparently still asked management to consider an advance of NAf. 3 million plus payments in terms.

De Geus said that after consulting the Supervisory Board it was decided to pay NAf. 14.2 million in October, NAf. 19.9 million next March and NAf. 13.9 million in June 2019. This is partly due to good progress being made in finding a partner

Source: The Daily Herald https://www.thedailyherald.sx/islands/81723-uts-to-pay-out-naf-42-million