The move comes as a result of Bermuda Container Line Limited having sustained a market capitalization in excess of $15 million over a consecutive twelve-month period as of 30 April 2002 and is in accordance with the Exchange's Listing Regulations.
Mr. Greg Wojciechowski, CEO of the BSX commented, "We are delighted to announce the move of Bermuda Container Line Limited up to the Exchange's Main Board. We view this is a significant event as it is the first time a listed issuer has graduated to the Main Board of the Exchange. The move also reflects the increased valuation placed on Bermuda Container Line Limited by investors and speaks to the successful performance of the company".
Bermuda Container Line Limited President and CEO, Mr. Geoffrey Frith, added, "Bermuda Container Line is pleased with the move to the Main Board of the BSX. We believe that it is important to have an active market in the shares of local companies as this strengthens the overall Bermuda economy. We hope this move attracts more interest in the shares of both BCL and other local companies."