Polaris Acquires Duck’s Puddle Properties
In a filing with the Bermuda Stock Exchange [BSX], Polaris Holding Company Limited provided notice of transactions.
The full filing stated: “On 4 May 2023, the Company completed the acquisition of Duck’s Puddle Properties Ltd., which is the owner of certain property located at 8 Duck’s Puddle Drive in Hamilton Parish. In addition, a subsidiary of the Company, Mill Reach Holding Limited, has completed the sale of all of its properties located on Mill Reach Lane.
“These transactions were completed in order to bring about a greater degree of security for the commercial operations carried out at the East End Asphalt Company Limited [EEA] plant as, to this point, EEA had operated on the Duck’s Puddle property under a commercial lease. The proceeds from the Mill Reach property sales together with a new $1 million term loan facility from Clarien Bank Limited were used to help finance the acquisition of Duck’s Puddle Properties Ltd.”
