Stevedoring reorganises into parent company – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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Stevedoring reorganises into parent company

Stevedoring Services Ltd has been delisted from the Bermuda Stock Exchange (BSX) as part of a restructuring of the business that will also see it come under the parent company of Polaris Holding Company Ltd.

A scheme of arrangement formalising the move was agreed by the shareholders of Stevedoring Services on Wednesday, March 16, 2011 and was sanctioned by the Supreme Court on Friday, March 25, 2011.

As a result of the reorganisation, trading in shares of Stevedoring Services on the BSX have been ceased and its listing has been cancelled. The common shares of Polaris Holding Company have been approved for listing on the BSX effective at the market opening yesterday.

Shareholders of Stevedoring Services will have their shares converted into Polaris Holding Company stock of the same quantity and value.

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Published March 29, 2011 at 10:30 am (Updated March 29, 2011 at 10:29 am)

Stevedoring reorganises into parent company

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