One considers delisting from BSX
One Communications Ltd is considering delisting from the Bermuda Stock Exchange.
Shareholders are expected to be asked to consider a vote on the company's voluntary withdrawal from listing on the BSX at the company's Annual General Meeting next week.
The company, and its predecessor forms, has been listed on the BSX for decades.
In a letter to shareholders, Gary Phillips, chairman of the board, said: “The board has considered both the benefits and burdens of maintaining the company's listing. While we remain appreciative of our long history on the BSX, it has become increasingly clear that the company's and the shareholders' best interests no longer require continued listing.”
A resolution to voluntary withdraw the listing is proposed of the AGM, which will take place at the Hamilton Princess on September 25.
In addition, Fiona Beck, a longstanding member of the board, will not be seeking re-election. Former senator Kim Wilkerson has agreed to stand for election to the board.
Mr Phillips said Ms Beck would leave with the board's thanks and appreciation.