Suspended shares traded by accident
Stock Exchange yesterday -- even though the bank's stock was supposed to have been suspended the day before. BCB's shares dropped by one-eighth of a dollar to $6.25, with a low volume of 191.
BCB managing director Mr. Richard Francis accepted full responsibility for the situation, blaming a breakdown in communications between him and the exchange.
"We thought they would block our prices by putting up a `shares suspended' sign and they thought our shares weren't suspended because we put in prices,'' he said.
He said BCB's shares are now being suspended from 9 a.m. today.
Trading in BCB's stock was suspended on Monday while talks over the sale of Barclays Bank's 32 percent stake were being finalised.
Otherwise, it was a quiet day on the Exchange with just three trades, all at unchanged prices. Bank of Bermuda closed at $43.50, with a volume of 519; the Bank's eight percent preference stock remained at $11.50; and Bank of Butterfield closed at $25, on volume of 200.
The Exchange Index closed at 984.30 -- down by 0.21.
