Citing low levels of trading activity involving its stock on the Barbados Stock Exchange (BSE) and Eastern Caribbean Securities Exchange (ECSE), GraceKennedy has announced its intention to delist off both exchanges at the end of June.

In huge contrast to the 5,611 and 1,504 stockholders that it had respectively on the central securities depositories in Jamaica and Trinidad as at December 31, 2009, the firm said it only had 64 and 45 stockholders respectively on the Barbados and Eastern Caribbean central securities depositories. And the company said in a press release yesterday that the low levels of trading does not justify the costs associated with maintaining the listings.

“The Company wishes to emphasize that it continues to support the regional stock exchanges and thanks the management and staff of the BSE and the ECSE as well as the Eastern Caribbean Central Securities Depository and the Barbados Central Securities Depository for their support and cooperation over the period our Company was listed on the stock exchanges in these territories,” said the release, which noted that the firm will maintain its listings on the Jamaica and Trinidad & Tobago stock exchanges.

The company said, hoever, that affected stock holders can maintain their investment in the company by either withdrawing their stockhodings from the relevant central securities depository in Barbados or the Eastern Caribbean and request for a physical stock certificate in their own name or by transfering their stockholdings from the affected central securities depositories to the Jamaica Central Securities Depository or the Trinidad and Tobago Central Securities Depository.

The Company said it will be communicating with each affected stockholder in respect of these options.

GraceKennedy listed its share in Trinidad in December 1998 and in Barbados in October 1999 then in 2005 listed on the Eastern Caribbean Securities Exchange (ECSE).