Ascendant Group CFO Coelho To Resign

August 6, 2014

Ascendant Group Limited – the parent company of BELCO –announced that Senior Vice President & Chief Financial Officer Christopher Coelho has tendered his resignation, effective 31 August, 2014. Mr. Coelho will serve as an advisor to the Company on regulatory matters until 31 December, 2014.

Announcing the resignation, Walter M. Higgins, President & Chief Executive Officer, said, “Chris has been a valuable member of the senior management team and an important contributor to Ascendant Group since joining the company in September 2009.

“The Board of Directors and senior management thank him for his leadership, dedication and expertise, and extend to him best wishes for success with future endeavors.”

The Company has initiated a search for a new Chief Financial Officer.

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