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.
WATERLOO INVESTMENT HOLDINGS LIMITED - CAPITAL REORGANISATION
Hamilton, Bermuda: August 2, 2017 –In a filing with the Bermuda Stock Exchange (“BSX”), Waterloo Investment Holdings Limited (the "Company" or “WIHL”; Ticker: WIHL.BH) today announced a reorganisation of its share capital. The full filing stated:
Waterloo Investment Holdings Limited (BSX Ticker: WIHL.BH) (the Company) today announces a reorganisation of its share capital. The Company has approximately 1,050 shareholders with approximately 750 shareholders holding fewer than 2,000 Ordinary Shares each. Ordinary Shares held by such small shareholders represent, in aggregate, approximately 0.1% of the 496,285,521 Ordinary Shares currently in issue.
By consolidating its share capital, the Company believes that certain of the costs inherent in maintaining a shareholder base of over 1,050 shareholders will be reduced and an exit will be provided to small shareholders whose holding will be acquired by the Company. The Board considers that it is in the interests of the Company and its shareholders to reorganise the Company’s share capital in such a way as to provide a cash payment per Ordinary Share, free of regulatory restrictions and dealing charges, for their entire shareholding to all holders of fewer than 2,000 Ordinary Shares (the Capital Reorganisation).
Shareholders who hold their shares at market close on the BSX (Hamilton, Bermuda) on 4 August 2017 will be shareholders of record for the purpose of the Capital Reorganisation. Cheques for the cash payment and/or new share certificates are expected to be dispatched to shareholders on or around 18 August 2017, following the completion of the Capital Reorganisation.
A circular explaining the Capital Reorganisation in more detail will be posted to shareholders today and will be published on the Company's website shortly.
For further information contact:
Waterloo Investment Holdings Limited at 101 Governors Road, Leeward, Providenciales, Turks & Caicos Islands, B.W.I. or send an email via the Company’s website http://www.wihl.com.