of the shares owned by foreigners.

Among the shareholders and directors are UBP MPs Mr. Ernest DeCouto -- who holds 4.4 percent, and Works Minister the Hon. Ralph Marshall, whose Raphael Ltd. owns less than 1 percent. UBP party chairman Dr. James King owns 4.4 percent.

The largest single shareholder is SHA Holdings -- which is connected with D&J Construction -- with 17.4 percent. Mr. Malcolm Ralph Terceira and his son Mr.

Ralph Terceira each own 13 percent, while Mr. Fernance Perry's Mayfair Ltd.

owns 8.8 percent.

Other shareholders include Argus Insurance Management, Mr. Henry R. Dowling and MEF Enterprises -- commonly known as the Little Venice Group -- each with about 4.4 percent.

Grotto Bay's general manager Mr. George Robinson and his wife jointly own 2.2 percent of the shares.