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Kentucky Fried Chicken (Bermuda) Limited – Announces Intention to Delist From the BSX
Hamilton, Bermuda – 15 July, 2011 – In a filing with the Bermuda Stock Exchange (“BSX”), Kentucky Fried Chicken (Bermuda) Limited (KFCB.BH) gave notice of intent to delist the Company’s common shares from the BSX. The notice reads:
“At today’s Annual General Meeting of Kentucky Fried Chicken (Bermuda) Limited (the “Company”) a significant majority of shareholders (81%) voted in favour of delisting the Company from the Bermuda Stock Exchange (BSX).
Donald P. Lines, Chairman of the Board, said that while the Company greatly respected and recognised the importance of having a public exchange in Bermuda, it was not using the BSX to raise capital nor was the public actively trading the Company's shares on the exchange.
"We have valued our long relationship with the Bermuda Stock Exchange and the Board's decision to recommend to the shareholders that the Company's shares be withdrawn was not taken lightly," he said.
"However, we believe that it is in the Company's best interests to move forward as a private entity and we are gratified that after having carefully considered both the pros and cons of the delisting the shareholders overwhelmingly agreed with the Board's recommendation."
Mr. Lines also confirmed the Company will continue with its share buyback program and all interested shareholders should contact the Company’s registrar and transfer agent (Waterstreet Corporate Services Limited) should they wish to sell their shares.
The Company's last day of listing will be on a date to be confirmed by the BSX but not more than 90 days from today.”