worth amongst shareholders after paying out a total of $13.49 million.

The Bermuda Stock Exchange on Friday announced the company had voluntarily withdrawn its listing -- signalling the end of the distribution process.

Millennium CEO Peter Durhager told The Royal Gazette that in total the company paid out $9.50 a share -- with each share worth around $4 at their final trade in December.

The initial distribution to shareholders in June last year was $5 per share, while the second of $4.50 per share was made by February this year.

"We are pleased we have been able to return significant sums to shareholders,'' he said.

One of the company's only remaining obligations was for him and Millennium's former chief financial officer Neil Speight to serve as CEO and CFO respectively, for Logic Communications until May next year.

Mr. Durhager said the move to tidy up Millennium's affairs by withdrawing its listing from the BSX was merely routine.

Last year the company obtained shareholder approval to cease operations so it could sell off its subsidiaries and distribute its assets to shareholders.

In March it sold the Island's biggest Internet provider, Logic Communications, to BTC for $8 million.

KeyTech Ltd. was later formed as a holding company for both BTC and Logic.

Millennium also sold its Bahamas-based subsidiaries, Digital Systems (Bahamas) Ltd. and Internet (Bahamas) Ltd., to KPMG Bahamas for about $3.15 million.