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Polaris Holding Company Ltd - Notice of Transactions
Hamilton, Bermuda: 9 May 2023 – In a filing with the Bermuda Stock Exchange (“BSX”), Polaris Holding Company Limited (the “Company”; Ticker: POLAR.BH) provided notice of transactions. The full filing stated:
POLARIS HOLDING COMPANY LTD. (the “Company”)
On 4 May 2023, the Company completed the acquisition of Duck’s Puddle Properties Ltd., which is the owner of certain property located at 8 Duck’s Puddle Drive in Hamilton Parish. In addition, a subsidiary of the Company, Mill Reach Holding Limited, has completed the sale of all of its properties located on Mill Reach Lane.
These transactions were completed in order to bring about a greater degree of security for the commercial operations carried out at the East End Asphalt Company Limited (EEA) plant as, to this point, EEA had operated on the Duck’s Puddle property under a commercial lease. The proceeds from the Mill Reach property sales together with a new $1 million term loan facility from Clarien Bank Limited were used to help finance the acquisition of Duck’s Puddle Properties Ltd.
About Polaris Holding Company Ltd.
Polaris Holding Company Ltd. (POLAR.BH) is the parent company of Stevedoring Services Limited, East End Asphalt Company Limited, Equipment Sales & Rentals Limited, Mill Reach Holding Limited and Duck’s Puddle Properties Ltd.
Stevedoring Services Limited is a stevedoring company with a license to operate the commercial docks located in the City of Hamilton, Bermuda. East End Asphalt Company Limited is Bermuda’s leading asphalt manufacturing and paving company. Equipment Sales & Rentals Limited owns heavy equipment which is leased to Stevedoring Services Limited. Duck’s Puddle Properties Ltd. owns and manages certain properties located on Duck’s Puddle Drive, Hamilton Parrish. Currently, Mill Reach Holding Limited does not hold any assets.
Enquiries:
Polaris Holding Company Ltd.
Email: info@polaris.bm
Tel: +1.441.292.3366
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