Southern Trust Company, Inc. Termination of Incentives
* Kellerhals Ferguson Kroblin PLLC Royal Palms Professional Building, 9053 Estate Thomas, Suite 101, St. Thomas, V.1. 00802 340.779.2564 Telephone I 1.888.316.9269 Fax I www.kelller.com December 11, 2019 Via Electronic & Hand Delivery Mr. Kamal Latham Chief Executive Officer US Virgin Islands Economic Development Authority 8000 Nisky Center, Suite 620 St. Thomas, U.S.V.1. 00802 Hathamusvieda.org Re: Termination of Benefits Dear Mr. Latham: We are counsel to Southern Trust Company, Inc. (“STC”). STC was granted benefits by the Economic Development Commission (“EDC”) on February 5, 2014 and requested a commencement date of February 1, 2013. STC was granted benefits for a period of ten (10) years. As provided for in 29 V.T.C. §719, STC is requesting an early termination of its benefits effective December 31, 2019. STC will remain in existence following the termination date and is not being dissolved at this time. We ask that you schedule the appropriate compliance review so that this request can be addressed expeditiously. …
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* Kellerhals Ferguson Kroblin PLLC Royal Palms Professional Building, 9053 Estate Thomas, Suite 101, St. Thomas, V.1. 00802 340.779.2564 Telephone I 1.888.316.9269 Fax I www.kelller.com December 11, 2019 Via Electronic & Hand Delivery Mr. Kamal Latham Chief Executive Officer US Virgin Islands Economic Development Authority 8000 Nisky Center, Suite 620 St. Thomas, U.S.V.1. 00802 Hathamusvieda.org Re: Termination of Benefits Dear Mr. Latham: We are counsel to Southern Trust Company, Inc. (“STC”). STC was granted benefits by the Economic Development Commission (“EDC”) on February 5, 2014 and requested a commencement date of February 1, 2013. STC was granted benefits for a period of ten (10) years. As provided for in 29 V.T.C. §719, STC is requesting an early termination of its benefits effective December 31, 2019. STC will remain in existence following the termination date and is not being dissolved at this time. We ask that you schedule the appropriate compliance review so that this request can be addressed expeditiously. Please do not hesitate to contact me if you have any questions or need additional informanon. Very truly yours, Erika Kellerhals iECEiV2 Time:/ R DEC11 2019 By: .S2—zfC----_ EcoU&c1c Development Authority!STT