A Hong Kong-based investment holding company is planning to move its domicile to Bermuda from the Cayman Islands, The Royal Gazette can reveal.

National Arts Holdings Ltd., formerly Vertex Group Ltd., operates through three segments: network infrastructure and electrical installation services, digital solution services, and films production and distribution, and artiste management.

The company, which was incorporated in 2001 and employs 11 people, announced the proposal to redomicile to Bermuda in a series of notices on the Bloomberg wires, including a proposed share consolidation, capital reorganisation and a new share-option programme, as well as the purchase of head office space for HK$6.48 million.

A number of companies has exited the Cayman Islands since the start of the recession, with LOM (Holdings) Ltd. pulling out after announcing the reorganisation of its operations in the Caribbean in January.

Meanwhile several firms have left Bermuda's shores over the past year, including Amlin redomiciling its Bermuda unit to Switzerland and Flagstone Reinsurance Holdings completing the redomestication of its holding company from the Island to Luxembourg. XL Capital completed its parent company's redomestication to Ireland from Cayman last month.

National Arts Holdings' subsidiaries include Network Engineering Ltd., Vertex Systems Services Ltd., VCTG Technology Ltd., Great Wall Telecommunications Group Ltd., Vertex Media Ltd. and Vertex Digital Media Ltd. The company disposed of 100 percent equity interests in Vertex CDM Ltd. on November 11, 2009.

The company has a market capitalisation of $214.1 million and yesterday traded at a share price of HK$0.05.