Hamilton, Bermuda, 22 October, 1999 €”The Bermuda Stock Exchange today announces the cancellation of the listings of Staples Holdings Limited's Common Shares and Staples Holdings Limited's 10% preferred Shares. The cancellation of the listings follows the Exchange being advised by Deloitte and Touche that Paul Hubbard and Mark Smith of Deloitte and Touche have been appointed Joint Provisional Liquidators of the Company. The Exchange has also been informed by the Company that the Supreme Court of Bermuda has approved Petitions for Winding-Up filed by creditors of the Company on 29 September, 1999 and that all the Directors of the Company, and the Company's Secretary, have submitted their resignations. The cancellation of the listings is made under the provisions of the BSX Listing Regulations, Regulation 2.24 (3), "the Exchange considers that the issuer does not have a sufficient level of operations or sufficient assets to warrant the continued listing of its securities on the Exchange".
