Bahamas - FirstCaribbean International Bank

FIRSTCARIBBEAN INTERNATIONAL BANK (BAHAMAS) LIMITEDNotes to Consolidated Financial StatementsOctober 31, 2002(expressed in thousands of Bahamian dollars)10 Other liabilitiesOctober 31,2002$December 31,2001$Accounts payable and accruals 8,648 7,283Accrued interest 11,264 7,422Bills payable 2,942 8,653Dividends payable 7,500 –Provisions (note 16) 10,209 –Pension liability 2,550 –Other 2,045 –45,158 23,35811 Share capitalNumber ofshares$Common shares - voting:Barclays shares in issue at January 1 and December 31, 2001 200,000 1,158Transfer of Barclays shares on reverse acquisition (200,000) (1,158)CIBC Bahamas shares in issue at October 31, 2001 andbrought into account on reverse acquisition 66,894,010 152,290Shares issued during period as consideration for Barclays operations 52,569,590 320,538119,463,600 472,828The company is authorized to issue 150 million ordinary shares with a par value of $0.10 each and 50million preference shares with a par value of $0.10 per share.As part of the combination, and to mitigate against the dilution of interest of minority shareholders ofCIBC Bahamas Limited, the Directors have authorised a 3 for 5 rights issue to all qualifying shareholdersto subscribe for new common shares at the same price as that at which shares were issued to CIBC andBarclays Bank PLC, being $6.10 per share for a maximum of 3 million new shares.The Directors expect the rights offering to commence during the second quarter of fiscal 2003.65