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ARGUS GROUP - VOLUNTARY SUSPENSION OF SHARES: UPDATE
Hamilton, Bermuda – 14 September, 2010 – Argus Group Holdings Limited (the “Issuer”; Ticker: AGH.BH) today announces that the voluntary suspension of trading in its shares on the Bermuda Stock Exchange, which took effect on August 2, 2010, is ongoing. This action was taken as a result of insufficient notice being given to shareholders regarding its Annual General Meetings (“AGMs”) due to an inadvertent administrative error.
Argus recognizes that this administrative error should be corrected. On the advice of its legal counsel, Argus is actively pursuing steps to resolve this issue. Regrettably, the appropriate legal process necessary to remedy the matter has taken longer to complete than anticipated. This administrative matter does not affect the day-to-day operations of the company in any way and business continues as normal at Argus.
Gerald Simons, President & Chief Executive Officer of Argus comments: “We recognise the concern that the suspension of trading in Argus shares causes. Complete information on the steps we are taking to resolve these issues will be provided within the proxy statement to shareholders in connection with the 2010 AGM, or earlier if possible.”
Media Contacts:
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Troncossi Public Relations Tel: 292-5838 E-mail: alison@troncossi.bm