Bermuda Commercial Bank Market Announcement
In a filing to the Bermuda Stock Exchange, the Bermuda Commercial Bank Limited confirmed and updated the treasury stock information stated in the Bank’s 2010 and 2011 annual reports.
The submission stated: “In fiscal 2010, a total of 44,873 shares were repurchased to be held as treasury stock. In fiscal 2011, a further 23,000 shares were acquired to be held as treasury stock and in fiscal 2012 to date, a further 2,111 shares were purchased.
“These shares were primarily purchased as part of the BCB tender process. A small number of shares were also purchased to service the ongoing payment of directors’ fees.
“In fiscal 2011, 14,416 shares were sold from treasury and in fiscal 2012 to date, a further 6,199 shares were sold from treasury stock. These shares were primarily transferred to BCB directors who opted to receive their directors’ fees in BCB shares rather than in cash. A number of shares were also transferred to BCB staff as bonus payments.
“These transactions result in 49,369 shares remaining in Treasury stock as at today’s date.”
