SHARES DEPARTMENT

Ques: My cheque has become stale-dated, what do I do?

Ans: Stale dated cheques can be brought or forwarded to our Shares Office for updating.

Ques: If shares are held jointly, (for example John Doe and/or Jane Doe) and one holder dies, is it possible for the deceased person to be deleted from all records?

Ans: Yes, the death certificate should be forwarded to us along with all
share certificates so that we can delete the deceased person's name from our share register.

Ques: If shares are held jointly, (for example John Doe & Jane Doe) and one holder dies, is it possible for the deceased person to be deleted from all records?

Ans: Yes, an Affidavit for Joint Shareholding should be completed and signed by the surviving shareholder in the presence of a Commissioner of Oaths to Affidavits and returned to us together with a copy of the death certificate of the deceased person and original share certificates so that we can update our records.

Ques: Is it possible to credit my dividends to my foreign bank account?

Ans. We would prefer to forward dividends to you by means of a bank draft in foreign currency to your mailing address.

Ques: What is the procedure for the transferral of shares from a deceased person to their children or relatives?

Ans:

  1. Probated Will or Letters of Administration stating shares, as an
    asset, must be submitted along with all shares certificates.
  2. The Company's Official Transfer Form should be signed by both the
    Executor/Administrator of the Estate of the deceased person in the
    presence of the Shares Officer at our Thirst Park Office.

If transfer forms are completed away from our Office, all signatures should be notarised.

Ques: What is the procedure to replace lost share certificates?

Ans:
Letter of Affidavit and Letter of Indemnity (which can also be obtained from our Thirst Park office) should be signed in the presence of a Notary
Public or Commissioner of Oaths to Affidavits or Justice of Peace and returned to us together with the sum of G$1511.00 for the reissue of certificates totalling 1,000 shares and above, and G$1461.00 for shares below 1,000.

Please note that a new share certificate will be reissued six weeks after being tabled at our Directors' Meeting held towards the end of each month and advertised in our local newspapers.

Ques Is there a withholding tax for non-resident shareholders?

Ans:
A 20% withholding tax is deducted from dividends paid to overseas
shareholders. (Please note that shareholders living within the Caricom
region are exempted).

Ques: How can I go about selling my shares?

Ans:
A stock exchange market is now active in Guyana. Kindly contact the
below-mentioned stockbroker who may be of assistance to you:

Trust Company Guyana Limited

230 Camp & South Streets

P.O. Box 12295, Georgetown, Guyana

Tel: 592-225-0610-9

Fax: 592-227-2828

Email: trustcompany@solutions2000.net


Shareholders can now register for a Web Account on the company's website under Products & Services and get your personalized account which will enable you to make online dividend enquries and monitor your shareholding.

CREDIT CONTROL DEPARTMENT:

Ques: Who is eligible for credit?

Ans: Credit facilities can be extended to individuals, companies,partnerships and other forms of businesses.

Ques: What are the requirements to access a credit facility?

Ans:In order to qualify:- the following list of documents need to be submitted.

Individuals & Partnerships (Not registered as a Company)

  • Identification card/Passport
  • Credit References
  • Bank Reference
  • Business Registration
  • Proof of Asset Ownership (Depending on Credit Amount Required)

Companies & Others (Registered)

  • Credit Reference
  • Bank Reference
  • Credit Rating (For Overseas Companies)

Ques: What is the Procedure to apply for Credit?

Ans: The procedure is as follows:

  1. The Customer shows his/her intention to apply for this facility by
    visiting the head office and having a discussion with the Marketing
    Director/Sales Executive or Branches Executive in the case of Branch Customers.
  2. If the Executive would like to recommend a credit facility then a credit application form would be filled up and signed by the customer, the Sales/Branches Executive and the Marketing Director.
  3. The Customer is then sent to the Credit Control Executive for an interview, his comments/recommendations would be noted and the form would be submitted to the Credit Committee for approval. (All relevant documents would be photocopied and attached to the application form).
  4. If the credit is approved then the customer would be notified and credit account profile would be updated in the database.
  5. The customer would then make his/her order to the Sales Department who would arrange the delivery of these stocks.

Ques: What factors the Executive and Credit Committee would consider before recommending/approving this facility?

Ans: There are several criteria/factors that are considered before this facility is opened. Some are as follows:

  • Reputation of Company/Individual
  • Length of period in Business
  • Credit/Bank References
  • Qualification experience of customer to manage the business efficiently
  • Assets owned.
  • Marketing Issues-Strategic Location, etc.
  • Finance Issues-Credit risk relation to Customer
  • Must be a cash customer for a minimum of one year.
  • Other Information Obtained

Ques:What are the terms and conditions of the credit facility?

Ans: There are some basic conditions a customer must follow in order to enjoy a credit facility. There are as follows:

  • The customer must pay off all accounts within the approved time period given, eg. some customers may be given a 7days/14days/21days or 30days credit period.
  • A customer cannot be given credit in excess of the approved credit limit. If he/she requires more stocks then payments would have to be made on the account although the credit period might not be expired.
  • All monthly statements sent to customers must be reconciled and any variances must be reported to the Credit Office on a timely manner.

Ques: How can Credit Limits be increased?

Ans:

  • Credit Limits can be increased via the approval of an Increase in Credit Limit Application Form. Credit LImit can be increased at the
    discretion of the Credit Committee-based on the performance of the Customer's Account-eg. Prompt Payments, increased potential to sell more products.
    There is a temporary increase of Credit Limit at peak periods eg. Easter, Christmas based on the Credit Committee's approval.
  • Credit LImits can also be decreased upon the recommendation of the Credit Control Executive:- due to delinquency in payments,etc.

The Credit facility includes the cost of Bottles and Products

Ques: Are there any facilities offered with regards to bottles?

Ans:
There is also a Bottle Loan Facility which allows Customers starting a
business to develop their business by borrowing bottles. The bottles
are loaned for a period of three months at the end of which they must
be returned or paid for.

Alternatively the Customer's Bottles Account can be credited by agreed installments.

Ques: What is the procedure to apply for this facility?

Ans: An Application form must be filled up and approved similiar to the application for a credit facility.

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