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Polaris Holding Company Ltd. - Share Repurchase Under Section IIB 6.14 (2)(i)
Hamilton, Bermuda -06 march 2020 –: In a filing with the Bermuda Stock Exchange (“BSX”), Polaris Holding Company Limited (the “Company”; Ticker: POLAR.BH) advised that pursuant to BSX Regulation Section IIB 6.14(2)(i), shares were repurchased. The filing stated;
POLARIS HOLDING COMPANY LTD. – (the “Company”)
Please note that, pursuant to an Amalgamation Agreement dated 14 March 2019, between the Company, Duck’s Puddle Properties Ltd. (“DPPL”) and the other parties as set forth therein (the “Amalgamation Agreement”), the Company was obligated to purchase from DPPL the Hold-Back Shares (as defined in the Amalgamation Agreement) on 14 March 2020, or such earlier date as the parties may determine. On 13 March 2020, the Company purchased from DPPL the Hold-Back Shares, being 46,154 common shares of the Company for a purchase price of BD$300,000 and such purchased shares have been cancelled by the Company.