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Ascendant’s October 2018 Share Repurchases

Ascendant’s October 2018 Share Repurchases

In a filing with the Bermuda Stock Exchange [BSX], Ascendant Group Limited advised that pursuant to its share repurchase programme, during the month of October 2018 the company repurchased 88,863 common shares at an average price of $16.93. The Company advised the repurchased shares have been reserved for issuance. Related StoriesAscendant’s... Read more of this article

BELCO ‘Impacted By Rapidly Falling Demand’

BELCO ‘Impacted By Rapidly Falling Demand’

It’s been “challenging” for BELCO as they have “been impacted by rapidly falling demand and pressure from the Government and our customers to lower our rates,” Ascendant Group – the parent company of BELCO – said today [Nov 2] as they announced results for the first nine months of 2018. Ascendant President and... Read more of this article

Dennis Pimentel Appointed As BELCO President

Dennis Pimentel Appointed As BELCO President

Ascendant Group today [Oct 22] announced the appointment of Dennis Pimentel as President of BELCO. “Dennis started as a BELCO apprentice in 1989 and has progressed through the ranks of the Company during the last 29 years. Dennis held the positions of Specialist Electrical Fitter, O&M Foreman and then Capital Projects Foreman,” the... Read more of this article

ESTU Express Gratitude For Support Received

ESTU Express Gratitude For Support Received

Following a meeting held last night with the Premier, Ministers, and Ascendant Board members, the Electricity Supply Trade Union [ESTU] have expressed gratitude for the outpouring of support that they have received. ESTU President Donald Lottimore said, “Good day to the people of Bermuda, we, the members of the Electricity Supply Trade Union,... Read more of this article

Premier: ‘A Way Forward Has Been Agreed’

Premier: ‘A Way Forward Has Been Agreed’

[Updated] A meeting held last night with the Premier, Ministers, Electricity Union executive and Ascendant Board “was productive and a way forward has been agreed,” Premier David Burt said this morning. This follows after the Ascendant Group obtained a Supreme Court order  directing ESTU members “to return to their full employment... Read more of this article

Electricity Union: ‘Severity Cannot Be Ignored’

Electricity Union: ‘Severity Cannot Be Ignored’

The ESTU “exhausted all possible avenues in coming to a beneficial solution for all parties involved in this dispute but the response received has placed us into a corner with no other option but to continue with the withdrawal of labour,” the Electricity Supply Trade Union [ESTU] said this evening. This follows after the Ascendant Group... Read more of this article

‘Ascendant Obtained Order From Supreme Court’

‘Ascendant Obtained Order From Supreme Court’

This afternoon [Oct 19] Ascendant “obtained an order from the Supreme Court directing members of the Electricity Supply Trade Union [ESTU] to return to their full employment effective immediately,” the company said. This follows after workers decided earlier today to withdraw labour, with ESTU President Donald Lottimore saying, “Our membership... Read more of this article

‘Ministry Will Work To Achieve Some Resolution’

‘Ministry Will Work To Achieve Some Resolution’

Following today’s withdrawal of labour by Electricity Supply Trade Union members who work at BELCO, Minister of Home Affairs Walton Brown confirmed that the Ministry “had been in discussions with the ESTU.” “This dispute has emphasized the importance of the issues at stake and where possible, this Ministry will work to bring the parties... Read more of this article

‘BELCO Cannot Guarantee Full Electricity Supply’

‘BELCO Cannot Guarantee Full Electricity Supply’

[Updated] “Because of the lack of manpower, and in order to ensure we can operate the plant safely, BELCO cannot guarantee full electricity supply to the island,” the company said today. This follows after workers decided earlier today to withdraw labour, with ESTU President Donald Lottimore saying, “Our membership took a vote and as of... Read more of this article

Electrical Trade Union Workers Hold Meeting

Electrical Trade Union Workers Hold Meeting

[Written by Don Burgess] ESTU members met at lunchtime today [Oct 12] at the BIU headquarters to hear what progress had made in regard to their concerns with the Ascendant Group. Donald Lottimore, president of the Electrical Supply Trade Union [ESTU], told Bernews there were more than a half-dozen issues that needed to be ironed out with BELCO management. Last... Read more of this article

Ascendant’s Sept 2018 Share Repurchases

Ascendant’s Sept 2018 Share Repurchases

In a filing with the Bermuda Stock Exchange [BSX], Ascendant Group Limited advised that pursuant to its share repurchase programme, during the month of September 2018 the company repurchased 170,782 common shares at an average price of $16.36.The Company advised the repurchased shares have been reserved for issuance. Related StoriesAscendant’s... Read more of this article

Electricity Union Explains Work-To-Rule Action

Electricity Union Explains Work-To-Rule Action

Electricity Supply Trade Union [ESTU] President Donald Lottimore has moved to clarify the situation surrounding the Union’s current work to rule, explaining that the ESTU “take safety concerns very seriously,” and in an emergency they “have crews who are willing and able to respond.” “The crews will not carry out... Read more of this article

BELCO: ‘Regular Service Has Resumed’

BELCO: ‘Regular Service Has Resumed’

[Updated] “Regular service at the cashier and customer service departments has resumed,” BELCO said this morning [Oct 5], which follows after they said yesterday that the departments were closed due to “Union action pending.” Yesterday morning the company posted a social media update saying “with Union action pending, BELCO... Read more of this article