Hashtag: #AscendantGroup

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

Ascendant Group Announces 3rd Quarter Results

Ascendant Group Announces 3rd Quarter Results

Ascendant Group – the parent company of BELCO – today [Nov 13] announced results for the third quarter of 2019, stating that “core earnings from operations, before corporate expenses, were $19.5 million or $2.05 per share compared to $22.9 million or $2.32 per share for the first nine months of 2018.” A spokesperson said, “Ascendant... Read more of this article

Column: “Committed To Investing In The Island”

Column: “Committed To Investing In The Island”

[Opinion column written by Algonquin CEO Ian Robertson] When Algonquin Power & Utilities Corp. [Algonquin] was founded in 1988 to develop and own generating stations in mostly remote regions of Canada, it was imperative to build and maintain strong relationships with the communities in which we operate, primarily through job creation, excellent... Read more of this article

Ascendant Group Release Six Month Report

Ascendant Group Release Six Month Report

In a filing with the Bermuda Stock Exchange [BSX], Ascendant Group Limited’s reported their 2019 6-Month Report which was sent to Shareholders. The full Ascendant 2019 6-Month Report follows below [PDF here]: Related StoriesAscendant Celebrates Women’s Day Ascendant’s March 2019 Share Repurchases Ascendant’s Share Repurchases For... Read more of this article

Ascendant Group Shareholders Approve Sale

Ascendant Group Shareholders Approve Sale

The shareholders of Ascendant Group — the parent company of BELCO — today approved the sale of the Company to Algonquin Power & Utilities Corp. A spokesperson said, “Ascendant Group Limited, a publicly traded provider of energy and energy-related services, today announced that at the special general meeting of the shareholders... Read more of this article

High Tech Learning At Ascendant STEM Camp

High Tech Learning At Ascendant STEM Camp

A new cohort of budding scientists, technologists, engineers and mathematicians found an avenue to develop their STEM [science, technology, engineering, and maths] skills at the Ascendant Group Limited’s annual STEM Camp in July.Initially launched in 2013, Ascendant STEM Camp is aimed at middle school students with proven aptitude and interest in... Read more of this article

Ascendant Announces 2nd Quarter Results

Ascendant Announces 2nd Quarter Results

Ascendant Group Limited today announced results for the first six months of 2019. Highlights, as per the company’s announcement:Capital Plan progress continues with engines delivered for the North Power Station and ongoing upgrades to transmission and distribution infrastructure.Core earnings decreased $1.4 million resulting from lower electricity... Read more of this article

Algonquin Releases ‘Acquisition Fact Sheet’

Algonquin Releases ‘Acquisition Fact Sheet’

With Ascendant Group Limited having signed an agreement with Algonquin Power & Utilities Corp to “sell the Company subject to shareholder and regulatory approvals,” an ‘acquisition fact sheet’ has been released by the Canadian company highlighting its position and intentions regarding the sale. Bloomberg video interview with Algonquin... Read more of this article

ESTU To Meet Regarding Ascendant Sale

ESTU To Meet Regarding Ascendant Sale

The Electricity Supply Trade Union [ESTU] will meet with their members to discuss the planned sale of the Ascendant Group, with the ESTU President noting there is “considerable tension around this announcement, and we will look to make sure our members can voice their queries.” Agreement To Sell Ascendant To Canadian Company For $365 Million Yesterday,... Read more of this article

RA To “Evaluate” Proposed Sale Of BELCO

RA To “Evaluate” Proposed Sale Of BELCO

[Updated] The Regulatory Authority of Bermuda said they “will evaluate the proposed change of control of BELCO in accordance with the provisions of applicable legislation and any Ministerial directions.” This follows after Ascendant, the parent company of BELCO, confirmed that they signed an agreement with Algonquin Power & Utilities... Read more of this article

Ascendant Sign Agreement To Sell Company

Ascendant Sign Agreement To Sell Company

[Updated: Ascendant, the parent company of BELCO, confirmed they have signed an agreement with Algonquin Power & Utilities Corp to “sell the Company subject to shareholder and regulatory approvals," while a statement from Algonquin — which lists its head office in Ontario, Canada — said that under the terms of the all-cash transaction, "Ascendant’s... Read more of this article