BSX Approves Waterloo Investment Listing
The Listing Committee of the Bermuda Stock Exchange [BSX] announced the approval for listing of the 100,007,864 ordinary shares of US$1.00 par value each of Waterloo Investment Holdings Limited.
Waterloo is incorporated in the British Virgin Islands as an International Business Company under the BVI Business Companies Act 2004. The Company is an investment holding company, whose principal subsidiary, British Caribbean Bank Limited, operates a banking business in the Turks and Caicos Islands.
The Company also holds, through various subsidiaries, substantial debt interests in Leeward Resort and Marina and the Ambergris Cay development in the Turks and Caicos Islands, and the Port of Belize located in Belize. In addition, Waterloo owns a 50% share of Belize International Services Limited, and an approximate 25 percent interest in a oil processing and distribution operation in Costa Rica.
Caroline van Scheltinga, Chairman and CEC of the Company, commenting on the listing said: “Waterloo came into existence after the demerger of assets primarily in the Turks and Caicos Islands from BCB Holdings Limited, a company also listed on the Bermuda Stock Exchange (as well as London’s AIM and Trinidad and Tobago’s Stock Exchange). Shareholders of BCB Holdings Limited received shares in Waterloo on a 1:1 basis. I am pleased that we have strengthened our presence in the Caribbean and Central America with our listing on the BSX.”
Mr. Greg Wojciechowski, President and Chief Executive Officer of the BSX, stated, “We are delighted to welcome Waterloo Investment Holdings Limited to the Official List of the BSX. Waterloo Investment Holdings Limited joins a prestigious group of companies that have listed on the BSX.”
The listing of the Shares was sponsored by Appleby Securities (Bermuda) Limited. “The Appleby Securities Group is very pleased to have been chosen as sponsors to Waterloo Investment Holdings Limited”, said Carol Feathers, Managing Director of Appleby Securities (Bermuda) Ltd.
Isn’t this the same bank that was caught up with Michael Misick and the whole Turks & Caicos debacle? Lord Ashcroft owns it I think.
This one may come back and bite Bermuda one day.
Yes. Rather an interesting bank that never produces a full set of annual statements as other banks do in TCI. BCB does not disclose the notes to the financial statements that any auditor will tell you ,is essential. I cannot believe that the regulators do nothing about it. The bank was also heavily involved in Johnson International which went into compulsory liquidation. Trouble soon come.
Yup.