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BF&M Limited – Exemption From 60/40 Rule
Hamilton, Bermuda: 22 July, 2013 – In a filing to the Bermuda Stock Exchange (“BSX”), dated 22 July 2013, BF&M Limited (the “Company”; Ticker: BFM.BH) confirmed that, effective 22 July 2013, the company is no longer subject to the 60/40 rule.
The letter stated:
"Further to our letter to you dated 1st July, 2013 informing you of our notification to the Minister of Economic Development pursuant to Section 113(8) of the Companies Act1981 (the “Act”) on the same date, please be advised that effective 22nd July, 2013, the Company shall be deemed to be “Bermudian” pursuant to Section 113(cd)(i) of the Act.
Further, the Company, as a company to which Section 114(1)(e) of the Act applies, shall thereby no longer be subject to the requirements of Section 118 of the Act.”
For further information contact:-
R. John Wight C.A, CPCU
President & Chief Executive Officer
Phone 295 5566, Fax 292 8831, e-mail jwight@bfm.bm