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Gibtelecom buy-back completed

12 Dec 14

The Gibtelecom Board met yesterday to successfully complete the buy-back by HM Government of Gibraltar of Telekom Slovenije’s 50 per cent shareholding in the Company.  This follows the signing of a Share Purchase Agreement between the two parties on 17 November 2014.

The new Chairman is the Hon Fabian Picardo, and another new Director, Albert Mena, has been appointed to the Gibtelecom Board.  The Hon Dr Joseph Garcia stepped down from the Company’s Board after three years as Chairman and after seeing through the completion of the shares buy-back.  The Chief Executive Officer, Tim Bristow, in thanking Dr Garcia, acknowledged “the pivotal role he had played in leading the Board at a time when the business has been developing and growing at both home and abroad”.  He said “Dr Garcia will be much missed but we all look forward to working with the new Chairman and Board in taking the Company on its continuing journey.”

Following Telekom Slovenije’s exit Gibtelecom’s Board will at this time comprise four Directors:  the Chairman, the Hon Fabian Picardo; the Chief Executive Officer, Tim Bristow; Dilip Dayaram Tirathdas and Albert Mena.


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