Skip to main content

This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

Bermuda Commercial Bank Limited – Exercise of Options Re-statement

Hamilton, Bermuda – 30 September, 2011 – In a filing with the Bermuda Stock Exchange (“BSX”), Bermuda Commercial Bank Limited (the “Company” or “BCB”; Ticker: BCB.BH) issued a correction to the exercise of options notice released on 29 September, 2011.

 

BCB announced that the following Options over common shares were exercised:

  1. On 27 September, 2011, Utilico Investments Limited (“Utilico”) exercised 200,500 options over common shares at a price of $7.05 per common share. Following this transaction, Utilico is interested in 2,464,501 common shares, representing approximately 34.94% of BCB’s issued share capital;
  2. On 28 September, 2011, Ingot Capital Management (“Ingot”) exercised 149,375 options over common shares at a price of $7.05 per common share. Following this transaction, Ingot is interested in 261,408 common shares, representing approximately 3.71% of BCB’s issued share capital;
  3. On 30 September, 2011, Resimac Limited (“Resimac”) exercised 50,125 options over common shares at a price of $7.05 per common share. Following this transaction, Resimac is interested in 1,015,002 common shares, representing approximately 14.39% of BCB’s issued share capital;

As a result of the above transactions, as at 30 September, 2011, the total number of BCB’s issued and fully paid common shares is 7,052,687 compared to 6,652,687 issued and fully paid shares as at 31 December, 2010.

 

Bermuda Commercial Bank Limited is one of Bermuda’s four licensed banks, established in 1969 and regulated by the Bermuda Monetary Authority. It is Bermuda’s only bank focused purely on corporate and private wealth clients, offering a range of bespoke financial solutions. BCB’s website is www.bcb.bm and its shares are publicly traded and listed on the Bermuda Stock Exchange bsx.com (Ticker: BCB.BH). BCB’s share price is available on the BSX and on Bloomberg and is published daily in the Royal Gazette.

 

For further information please contact:

Horst Finkbeiner, Chief Operating Officer

Bermuda Commercial Bank Limited

(441) 299-2873

hfinkbeiner@bcb.bm