KFC Bermuda completes BSX delisting
Kentucky Fried Chicken (Bermuda) Ltd has delisted from the Bermuda Stock Exchange (BSX) with immediate effect, the company announced yesterday.This follows the company’s announcement in August of its voluntary delisting.Further to KFC Bermuda’s announcement of its intention to delist in July, the company advised the BSX that its final day of trading would be Friday October 7, 2011, in order to accommodate the settlement of any outstanding trades in the company’s shares.Eighty-one percent of KFC’s shareholders voted in favour of delisting at the company’s annual general meeting (AGM) held in July.KFC Bermuda first announced its intention to delist in November 2009, having initially said the previous May that it was considering the move due to the increasing costs associated with being a publicly-listed company.At the time, chairman Donald Lines said in his letter to shareholders that the company believed it was in the best interests of its shareholders to delist from the BSX, but added that insufficient shareholders were represented at its AGM in May 2009 to support the resolution in favour of the move.