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BSX Approves Listing Of Bank Of Butterfield’s Rights
Hamilton, Bermuda - 12 April, 2010 - The Listing Committee of The Bermuda Stock Exchange (BSX) announces that the BSX has today approved the listing of up to 107.6 million Rights to purchase up to 99.3 million Common Shares of The Bank of N.T. Butterfield & Son Limited (the Company; Ticker: NTB.BH) subject of the Company’s Rights Offering which became effective today.
The Rights will commence trading on the BSX today, Monday, 12 April and cease trading on Thursday, 6 May, 2010.
The Rights Offering will close on Tuesday, 11 May, 2010.
The Rights are deemed to be listed securities from 12 April until 11 May, 2010.
The Listing of up to 99.3 million new Common Shares, subject of the Rights Offering, has also been approved in principal, subject to confirmation from the Company of the actual number of new Common Shares issued. It is anticipated that trading in the new Common Shares will commence on or about Wednesday, 12 May and that Notice of their unconditional listing approval will be given to the market by the BSX near to that date.
The Contingent Value Preference Shares also subject of the Rights Offering will not be listed or traded on the BSX. However, approval in principal has been granted for up to 8.3 million additional Common Shares that the Contingent Value Preference Shares are convertible into.