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Bank Of Bermuda Declares Dividends
In addition, in connection with the proposed acquisition of the Bank by HSBC Holdings plc pursuant to an amalgamation of the Bank and a subsidiary of HSBC Holdings plc, the Board of Directors of the Bank of Bermuda Limited has also today declared a special, conditional dividend of BD$5.00 per share. The special dividend will be payable to holders of record as of the close of business on the day prior to the date on which the amalgamation becomes effective and will be paid two weeks thereafter. This special dividend is conditioned upon the closing of the amalgamation and will only be paid if the amalgamation occurs. The shareholders of the Bank will be asked to approve the amalgamation at a special general meeting of shareholders scheduled for 16 February 2004. The amalgamation is also subject to Governmental and regulatory approvals and the satisfaction of other conditions.