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Early last Sunday afternoon, I received the following message by WhatsApp:
“Vincent Pereira has announced his retirement/resignation from Republic Financial Holdings (RFHL). I have known him for decades, and he has said that he is selling all his shares in the bank, and I should do the same. I am going to follow his advice; he has never guided me wrong. This is all because of government interference in a very, very successful BANK.
“Robert Riley and Jason Mootoo SC have also resigned from the RFHL board. Shareholders have lost value since the shares are down mainly because of the government’s plan to have RFHL absorbed by FCB. Take Mr Pereira’s advice investors; I know some powerful investors have already started pulling out.”
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