Hamilton, Bermuda: 4 November 2002 - The Listing Committee of The Bermuda Stock Exchange (BSX) today confirmed the approval of the listing of up to 2,613,445 8% Cumulative Redeemable Convertible Preferred Shares of KeyTech Limited.
The number of Preferred Shares to be listed is the maximum number of Preferred Shares that can be issued via the Exchange Offer made by KeyTech to the holders of the BTC 7 ¾% Redeemable Notes.
The Preferred Shares are being issued at a fixed price of $10 and entitle the holders to a preferential dividend of 8% per annum. They are also Convertible into Common Shares of KeyTech Limited, initially in the ratio of one for one.
"The BSX is pleased to welcome this issuance of Preferred Shares by KeyTech Limited to listing on the Main Board of the Exchange", said Mr. James S. McKirdy, Listing and Compliance Manager of the BSX.