Trading in Bermuda Bakery shares on the Bermuda Stock Exchange was suspended yesterday after the long-time bakery cited irregularities related to its share register.

The suspension, announced by the Exchange at the request of the Island's largest bakery, will be in force pending the completion of an investigation by company auditors into the last three years of the share register's records.

The company, headquartered off Pitts Bay Road in Pembroke, is believed to have about 180 shareholders.

Chairman Mr. James Pearman said last night: "We've also found that it maybe that some people have not received their dividends. We wish to make quite sure whether they have or not.

"It is a bit of untidy stuff that is going on and it takes some time to track it all down.

"But we really had no option but to suspend the shares for the good of the shareholders and the public who do buy the company shares from time to time.'' The board of directors of the 73-year old company said last night that they made the request to the Exchange because "irregularities have been identified by our auditors, Butterfield & Steinhoff, in relation to the share register, some issued shares of a small number of shareholders and their dividends.'' The company's prepared statement, first released to The Royal Gazette late yesterday by the Exchange, continued: "The investigations are continuing and the board is advised that Butterfield & Steinhoff will have to write to each of our shareholders to audit the accuracy of the share register and dividend account.

"This will take up to one month to complete. The BSX (the Exchange) has agreed to suspend trading in the common shares of the Bermuda Bakery Ltd. with immediate effect.

"The board and the BSX will seek to lift the suspension and resume trading as soon as possible.'' The company stock last traded on the Exchange November 6 at a price of $19.375.

Mr. Pearman, said last night that the irregularities were first identified by Butterfield & Steinhoff a week ago.

He said: "We certainly will lift the suspension as soon as the exercise is complete.'' He conceded there was some uncertainty as to how many shareholders would have retained up-to-date records to answer all of the relevant questions covering a time period as far back as 1992.

Company auditors will write to the 180 shareholders asking how many shares they have, if they had traded on the Exchange recently, whether or not they had received their dividends, as well as checking the accuracy of the name and address of registered shareholders.