November 12, 2013
\‘l.\ HANI) DELIVERY
Ms. ennifer Nugent-Hill
CILO/Chief Operating Officer
U.S. Virgin Islands Kconomic Development Authodn
6000 Nisky Center, Suite 620
Sr. Thomas, VI 00S22
Re:
Southern Trust Company. Inc.
Capital Investment Requirement—Extension of Time
Dear Ms. Nugent-ilill:
\Ve are counsel to Southern Trust Company, Inc (“Southern Trust”) which was :ranred benefits by
the liconomic Development Commission commencing on
I ebruan
I, 2013.
‘I’he benefits were
granted with the condition that Southern Trust invest S400,000.U0 in the beneIi’ed business upon
commencement of benefits and completing one (1) year thereafter.
Southern Trust respectfully requests a one (1) \ear extension of wiw until Februan
I, 2015 to meet
the
capital
investment
requirement.
Southern
Trust
is
confident
it
will
meet
its
investment
requirement by Febnian 1, 21)15, and would respectfully request approval of this estension (if time.
Please contact me if you have any questions.
Warm regards,
ct
I ERi-AS
‘I ETCHER
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tuthnri1yISTT
Erika Kellerhals