KeyTech, the parent company of BTC, BTC Mobility, Logic and part owner of CableVision yesterday sought to clarify the criteria for approving their capital restructuring plan.

A release made through the Bermuda Stock Exchange said: "KeyTech wishes to advise that notwithstanding articles in the local press today, (Wednesday) 67.5 percent of shareholders who voted at a Special General Meeting on 12th September voted in favour of the resolution presented.

"In order to be passed, the resolution required the approval of a simple majority of the votes cast at the meeting."

The company said that 75.5 percent of total shareholders participated in the Special General Meeting and 51 percent of total shareholders voted in favour of the resolution, representing 67.5 percent of those participating, and 24.5 percent of total shareholders voted against the resolution, representing 32.5 percent of those participating.