No money for Shareholders at Cable Bahamas! And capital for mobile license is hard to find…

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Could this be, as Winston Churchill say, the Beginning of the end for CBL’s NEWCO?

NO Shares this year for Cable Bahamas Ordinary Shareholders.
NO Shares this year for Cable Bahamas Ordinary Shareholders.

Nassau, Bahamas – If you have shares in Cable Bahamas (CBL), perhaps this is great time to sell and get rid of that investment which has peaked.

The company, strapped for cash to launch its mobile bid in the country, announced on Tuesday the sad news that dividends to Ordinary Shareholders will not be coming this year.

In the note on the slowest newspaper day of the week CBL notice read:

“Cable Bahamas announced today that for its July 1st, 2016 to June 30th, 2017 fiscal year, it would be suspending dividends on its ordinary shares so that it can use all of its available cash resources to rapidly exploit its numerous growth opportunities.”

Bahamas Press has long reported the news to investors that CBL was in a big problem with cash. We also noted that the company was having a hard time raising capital for its long expected mobile platform. The money ain’t there and the market is tight! The towers are on the ground waiting for the dog piss and the grass has overgrown.

These are just the facts and, well – NOW YA KNOW!

We report yinner decide!