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Butterfield Evaluating Possible International Stock Listing
Hamilton, Bermuda—1 June 2015: Mr. Brendan McDonagh, Chairman & Chief Executive Officer of The Bank of N.T. Butterfield & Son Limited, today announced that, following the share buy-back from CIBC in April 2015, Butterfield continues to focus on the next stage of its development, building on its record of profitability and prudent capital position.
In that context, the Bank is evaluating the merits of an international listing of its common shares—in either the United Kingdom or the United States—in addition to its listing on the Bermuda Stock Exchange.
Butterfield believes that an international listing could introduce broader liquidity into the share register and facilitate access to a wider pool of international investors.
Mr. McDonagh cautioned that, at this stage, the evaluation is exploratory and further highlighted the fact that there is no certainty that Butterfield’s common shares will be listed and trade on an international stock exchange in the near future.
-ENDS-
This communication is directed only at persons who (i) are outside the United Kingdom or (ii) have professional experience in matters relating to investments or (iii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations, etc.”) of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (all such persons together being referred to as relevant persons). Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.
This announcement does not constitute an offer to sell securities, or a solicitation of an offer to buy securities, in any jurisdiction, including without limitation the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). No decision has been made as to whether any securities of The Bank of N.T. Butterfield & Son Limited (the “Issuer”) will be registered under the Securities Act, or the laws of any State. A public offering of securities in the United States, if any such offering is made, will be made by means of a prospectus that may be obtained from the Issuer containing detailed information about the Issuer and management, as well as financial statements.
Notes to Editors:
The Bank of N.T. Butterfield & Son Limited (“Butterfield”) is Bermuda’s first and largest independent bank, and a specialist provider of international financial services. The Butterfield Group offers a full range of community banking services in Bermuda and the Cayman Islands, encompassing retail and corporate banking and treasury activities. Butterfield also provides private banking, asset management and personal trust services from its headquarters in Bermuda and subsidiary offices in the Cayman Islands, Guernsey and the United Kingdom. In Switzerland and The Bahamas, Butterfield provides personal trust and company services. Butterfield is a publicly traded corporation with shares listed on the Bermuda Stock Exchange. Butterfield’s share price is published daily in The Royal Gazette (www.theroyalgazette.com) and is also available on Bloomberg Financial Markets (symbol: NTB BH) and the Bermuda Stock Exchange website (www.bsx.com). Further details on the Butterfield Group can be obtained from our website at: www.butterfieldgroup.com.
Media Relations Contact:
Mark Johnson
Vice President, Communications, Brand & Public Affairs
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 299 1624
Cellular: (441) 524 1025
Fax: (441) 295 3878