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Ascendant Holdings Ltd Lists Additional Common Shares
Hamilton, Bermuda: 19 May 2005 - The Bermuda Stock Exchange (BSX) today announced the approval of the listing of a further 5,204,950 Common Shares of Ascendant Holdings Ltd.
These additional Common Shares were issued by Ascendant Holdings Ltd. during October 2004 and comprise of 1,000,000 Common Shares issued via a debt restructuring; 1,200,000 Common Shares issued on exercise of warrants; 422,950 Common Shares issued via a private placement; 2,155,000 Common Shares issued via another private placement; 150,000 Common Shares issued to a Director for his services as a director; 50,000 Common Shares issued to the company's Chief Financial Officer for his services and 227,000 Common Shares issue to various other employees of the company for their services.
First Bermuda Group Ltd acted as listing sponsor for Ascendant Holdings Ltd.
Ascendant Holdings Ltd. was listed in May 2004 under the Exchange's listing provisions relating to Restricted Marketing of securities to Qualified Investors, being individuals or institutions that invest either a minimum of $100,000 or otherwise meet one of the suitability tests defined by the Exchange.