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Butterfield Bank Clarifies Options For Preference Shareholders Regarding Proposed Rights Offering
Hamilton, Bermuda – 18 March 2010 – In a filing to the Bermuda Stock Exchange (BSX), The Bank of N.T. Butterfield & Son Limited (“Butterfield” or the “Bank”; Ticker: NTB.BH) today provided additional guidance for its Preference Shareholders with regard to the proposed Rights offering of the Bank.
The Bank will have the option to offer to the holders of the 8% non-cumulative perpetual limited voting preference shares (the “Preference Shares”) in the capital of the Bank any unexercised Rights to subscribe for additional shares to the extent such unexercised rights are not taken up by participating shareholders. For this purpose the Board of Directors of the Bank has set 26 March, 2010, as the record date for determining which holders of Preference Shares would be given this opportunity.
Editors Notes:
The Bank of N.T. Butterfield & Son Limited (“Butterfield”) is Bermuda’s first and largest independent bank, and a specialist provider of international financial services. The Butterfield Group offers a full range of community banking services in Bermuda, Barbados and the Cayman Islands, encompassing retail and corporate banking and treasury activities. In the wealth management area, the Group provides private banking, asset management and personal trust services from its headquarters in Bermuda and subsidiary offices in The Bahamas, the Cayman Islands, Guernsey, Hong Kong, Malta, Switzerland and the United Kingdom. Butterfield also provides services to corporate and institutional clients from offices in Bermuda, The Bahamas, the Cayman Islands and Guernsey, which include asset management and corporate trust services.
Butterfield is a publicly traded corporation with shares listed on the Bermuda and Cayman Islands stock exchanges. Butterfield’s share price is published daily in The Royal Gazette (www.theroyalgazette.com) and is also available on Bloomberg Financial Markets (symbol: NTB BH) and the Bermuda Stock Exchange website (www.bsx.com).
Further details on the Butterfield Group can be obtained from our website at: www.butterfieldgroup.com.
Investor Relations Contact:
John Maragliano
Senior Vice President, Finance
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 298 4758