As of August 2014, the Dominica Social Security (DSS) Board–being the sole shareholder of Marpin 2K4 Ltd.–decided that its investment in Marpin 2K4 Ltd. had been available for sale. Since then, a number of firms and individuals have expressed interest in purchasing DSS’s shares in the company, but it is the firm of Cable & Wireless Communications Ltd. which provided the DSS with the most favorable offer and maintained its interest to the very end.
The DSS announces that after a prolonged period of negotiations and the conducting of necessary due diligence, the Dominica Social Security (DSS) and Cable & Wireless Communications (C&W) operators of FLOW have finally signed the Share Purchase Agreement, effectively transferring DSS’s shares in Marpin 2K4 Ltd. to the said Cable & Wireless Communications (C&W) operators of Flow.
Hence, with effect from 12 May, 2017, the Dominica Social Security ceases to be the owner of Marpin 2K4 Ltd. and, from here on, the operations of Marpin are expected to be integrated with that of Cable & Wireless Communications, operators of Flow.
The DSS is satisfied that such a decision to divest itself of this investment was in the continued best interest of the contributors on whose behalf the Social Security Fund is being managed in trust. DSS therefore, takes the opportunity to thank all the stakeholders of Marpin 2K4 Ltd. for their forbearance over the course of the last several months and looks forward to the anticipated improvements in the fortunes of Marpin 2k4 and the services that it provides.