Polaris Holding Company Share Repurchase

March 17, 2020 | 0 Comments

In a filing with the Bermuda Stock Exchange [BSX], Polaris Holding Company Limited advised that shares were repurchased.

The filing stated; “Please note that, pursuant to an Amalgamation Agreement dated 14 March 2019, between the Company, Duck’s Puddle Properties Ltd. [DPPL] and the other parties as set forth therein [the “Amalgamation Agreement”], the Company was obligated to purchase from DPPL the Hold-Back Shares [as defined in the Amalgamation Agreement] on 14 March 2020, or such earlier date as the parties may determine.

“On 13 March 2020, the Company purchased from DPPL the Hold-Back Shares, being 46,154 common shares of the Company for a purchase price of BD$300,000 and such purchased shares have been cancelled by the Company.”

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