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KFC shares plunge $11

Bid and ask for the security were $12 and $23 respectively.The high for 1995 was $27.875 while the low was set yesterday.

on volume of 238 yesterday.

Bid and ask for the security were $12 and $23 respectively.

The high for 1995 was $27.875 while the low was set yesterday.

The stock, which rarely changes hands, last traded on August 29 at $25.

KFC president and managing director Mr. Ian Paton, who purchased the shares sold on August 29, said he could not comment on yesterday's trade because he was not aware of the circumstances surrounding it.

The shares traded yesterday represent only .08 percent of KFC's 300,000 shares outstanding.

KFC announced on August 27 plans to close its Queen Street pizza business and not pay third and fourth quarter dividends.

The company had spent $2 million -- $1 million was raised through a one for five rights offering extended to existing shareholders and an additional $1 million through financing -- to open the pizza business.

In connection with the expansion, the company also chose not to pay its regular second quarter dividend of 40 cents per share.

In other trading activity, Bank of Bermuda warrants closed down 87.5 cents at $2.125 on volume of 280.

Hemisphere closed down 12.5 cents at $7.375 on volume of 965.

Bank of Butterfield gained 12.5 cents to close at $10.50 on volume of 4,980.

Share volume was 8,159 with a share value of $110,360.88.

The exchange closed down .21 points or .02 percent at 998.84.

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