(File No. 333-35105)424(b)(3)
Supplement No. 2
to
Prospectus dated February 4, 1998
Lockhart Caribbean Corporation ("LCC") has signed definitive agreements
to purchase all of the outstanding common stock of two insurance companies:
Guardian Insurance Company, a U.S. Virgin Islands-based insurance company
("Guardian"), and Heritage Insurance Company (Caribbean), Ltd., a British Virgin
Islands organized insurance company ("Heritage"). The acquisition of Guardian
and Heritage are subject to receipt of certain regulatory approvals and
customary closing conditions, and there can be no assurance that such approvals
will be obtained or that all conditions will be satisfied or waived. Although
the timing of the transactions cannot be assured, LCC anticipates that both
acquisitions will be completed on or before October 31, 1998.
The acquisition of Guardian and Heritage represents an important step
in LCC's diversification into consumer financial services. In fact, the combined
revenues for Guardian and Heritage for 1997 are greater than LCC's revenues for
the same period. In light of the materiality of the pending acquisitions, LCC
has temporarily suspended its initial public offering until a post effective
amendment to LCC's registration statement on Form S-11 is filed with and
declared effective by the U.S. Securities and Exchange Commission.
If you have any questions, please contact Christine O'Keefe, Vice
President/Investor Relations, at:
e-mail: [email protected]
phone: (340) 776-1900
fax: (340) 776-1940
AUGUST 25, 1998
