KFC Bermuda to delist in October
Kentucky Fried Chicken (Bermuda) Ltd (KFC) has confirmed its delisting and last day of trading on the Bermuda Stock Exchange (BSX).
Further to KFC's announcement of its intention to delist on July 15, 2011, the BSX has advised that the delist date has been set for Wednesday October 12, 2011.
The final day of trading will be Friday October 7, 2011, in order to accommodate the settlement of any out-standing trades in the company's shares.
Eighty one percent of KFC's shareholders voted in favour of delisting at the company's annual general meeting (AGM) held last month.
KFC Bermuda first announced its intention to delist in November 2009, having initially said the previous May that it was considering the move due to the increasing costs associated with being a publicly-listed company.
At the time, chairman Donald Lines said in his letter to shareholders that the company believed it was in the best interests of its shareholders to delist from the BSX, but added that insufficient shareholders were represented at its AGM in May 2009 to support the resolution in favour of the move.