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Polaris Holding Co. Ltd. - 60/40 Rule Exemption Update
Hamilton, Bermuda – 24 December, 2012 – In a filing to the Bermuda Stock Exchange (“BSX”), Polaris Holding Company Limited (the “Company”; Ticker: POLAR.BH) issued an update on the Company’s plans to seek relief from the 60/40 rule. In a letter to the BSX the Company stated (excerpt):
“Re: Notice Regarding Polaris Holding Company Ltd’s (the Company) Reliance on Section 113 (1)(cd)(i) of the Companies Act Filed with the BSX on 27 November, 2012
………. regarding a potential delay in the above Notice, originally to be effective 2nd January, 2013, please be advised that we are in receipt of a notice from the Ministry dated 11th December, 2012, stating that criteria was not satisfied.
At this juncture, Polaris Holding Company Ltd wishes to formally advise The Bermuda Stock Exchange of its intention to reapply for this relief, by the end of January, 2013.”
For further information about this release and the Polaris Holding Company Limited, visit www.stevedoring.bm
Contact:
Mr. Raymond Medeiros
Executive Chairman or,
Mr. Jeffrey Conyers - Executive
Polaris Holding Company Limited
P.O. Box HM 377
Hamilton HM BX, Bermuda
Tel: (441) 292-3366
Fax: (441) 295-8708