Hashtag: #AscendantGroup

Sale Of Ascendant Group Is Now Completed

Sale Of Ascendant Group Is Now Completed

[Updated] The sale of Ascendant Group – the parent company of BELCO — has now been completed, the company confirmed today. An Ascendant spokesperson said, “The sale of Ascendant Group Limited [Ascendant] to Algonquin Power & Utilities Corp. [Algonquin] has now been completed. “Ascendant’s existing Bermudian management... Read more of this article

Ascendant Group’s Trading Halted On BSX

Ascendant Group’s Trading Halted On BSX

The Bermuda Stock Exchange [BSX] announces it has halted trading of Ascendant Group Limited’s common shares “due to the closure of the Company’s share register on Wednesday [Nov 4].” “Closure of the register was announced on 16 October 2020,” a spokesperson added. Related StoriesAscendant Celebrates... Read more of this article

BSX: Ascendant Resumes Trading Today

BSX: Ascendant Resumes Trading Today

The Bermuda Stock Exchange announced the resumption of trading of Ascendant Group Limited’s common shares effective 12 noon today [Oct 19]. This follows after trading was temporarily suspended due to approvals being granted to complete the sale of Ascendant -- the parent company of BELCO — to Algonquin Power & Utilities Corp. Related... Read more of this article

Sale Of Ascendant Group/BELCO Approved

Sale Of Ascendant Group/BELCO Approved

Ascendant Group Limited said they “welcomed the approvals of the Regulatory Authority [RA] and Minister of Finance as necessary steps in completing the sale of Ascendant to Algonquin Power & Utilities Corp.” Ascendant Chairman Peter Durhager said: “This is welcome news and could not come at a more critical time for Bermuda. With the... Read more of this article

Minister On Energy & Potential Sale Of BELCO

Minister On Energy & Potential Sale Of BELCO

Minister of Home Affairs Walter Roban held a press conference to provide an update on renewable energy initiatives and the potential sale of Ascendant, which is the parent company of BELCO. Minister Roban said, “During the recent election, there seemed to be a significant emphasis on renewable energy and a cleaner environment. I thought it important... Read more of this article

Ascendant Group Releases Q2 2020 Financials

Ascendant Group Releases Q2 2020 Financials

Ascendant Group Limited, a publicly traded provider of energy and energy-related services, announced that results for the first six months of 2020 have been released. The Six Month Report will be sent to shareholders and is also available on Ascendant’s website at www.ascendant.bm. The Ascendant Six Month Earnings follow below [PDF here]: Related... Read more of this article

RA Grants Approval For Ascendant/BELCO Sale

RA Grants Approval For Ascendant/BELCO Sale

[Updated] Ascendant Group Limited’s trading has been “suspended pending an announcement from the company.” “At the request of Ascendant Group Limited, the BSX has suspended trading in Ascendant Group Limited’s common shares pending an announcement from the Company,” the BSX said. Often when this happens it means a major announcement... Read more of this article

Ascendant Group Announces 1st Quarter Results

Ascendant Group Announces 1st Quarter Results

In a filing with the Bermuda Stock Exchange [BSX], Ascendant Group Limited’s announced results for the first three months of 2020. The full filing stated: “Ascendant Group Limited, a publicly traded provider of energy and energy-related services, today announced results for the first quarter of 2020, with core earnings of $4.1 million, or $0.42/share,... Read more of this article

Ascendant Donates $100,000 To Eliza DoLittle

Ascendant Donates $100,000 To Eliza DoLittle

Ascendant Group is donating $100,000 to The Eliza DoLittle Society to help bring some relief to those affected by the coronavirus pandemic. An Ascendant spokesman said: “Ascendant has a long and proud history of philanthropy in Bermuda. During these unprecedented times, as Bermuda contends with the coronavirus, our charities committee met to determine... Read more of this article

RA Invite Comment On Proposed BELCO Sale

RA Invite Comment On Proposed BELCO Sale

The Regulatory Authority [RA] is inviting the public and other interested parties to comment on the proposed purchase of BELCO by Algonquin Power. A spokesperson said, “The Regulatory Authority is inviting the public and other interested parties to comment on the proposed ‘Change of Control’, a proposed transaction concerning the acquisition of... Read more of this article

Ascendant Group Announces 2019 Results

Ascendant Group Announces 2019 Results

In a filing with the Bermuda Stock Exchange [BSX], Ascendant Group – the parent company of BELCO — announced their 2019 results, with core earnings of $15.3 million, or $1.60/share, compared to $14.5 million, or $1.49/share, in 2018 and net earnings of $12.4 million, or $1.27/share, compared to $5.4 million, or $0.54/share, in 2018. The... Read more of this article

Ascendant Celebrates Women’s Day

Ascendant Celebrates Women’s Day

Ascendant Group is celebrating International Women’s Day by participating in the Each for Equal campaign. “Ascendant is the parent company of several industrial and service technology businesses, which include BELCO and the AG Holdings Limited companies: AIRCARE, IEPC, and iFM. Within the companies, women work in various sections and professions,”... Read more of this article

Timeline For Ascendant Sale Decision Extended

Timeline For Ascendant Sale Decision Extended

The Minister of Home Affairs has extended the statutory timeline for a final decision on the application for Algonquin to purchase the Ascendant Group to October 4th, 2020. A spokesperson said, “On 3 June 2019 Ascendant Group Limited signed an agreement with Algonquin Power & Utilities Corp. for Algonquin to purchase the Company for $36 per... Read more of this article