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Polaris Holding Co. Ltd. – 60/40 Rule Exemption Update
Hamilton, Bermuda – 21 January, 2013 – In a filing to the Bermuda Stock Exchange (“BSX”), Polaris Holding Company Limited (the “Company”; Ticker: POLAR.BH) gave notice of the Company’s intent to re-apply to seek relief from the 60/40 rule.
In a letter, dated 18 January, 2013, to the Government of Bermuda’s Minister of Economic Development, Dr. The Hon. Grant Gibbons, JP, MP, the Company stated (excerpt):
" Polaris Holding Company Ltd., whose registered office is at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda, wish to reapply on the provisions of section 113(1)(cd)(i) of the Companies Act 1981 and to carry on business in reliance upon the provisions of section 114(1)(e) of the said Act and accordingly hereby notifies the Minister that its shares are listed on the Bermuda Stock Exchange and that it is engaged as a business in a material way in the “international transportation services (by ship or aircraft)” industry.
We respectfully request a meeting with The Ministry to discuss this matter further, prior to our reapplication."
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