Hashtag: #60/40Rule
Ascendant To Seek Relief From 60/40 Rule
In a filing to the Bermuda Stock Exchange, the Ascendant Group Limited gave notice of the Company’s intent, effective 22 October, 2012, to seek relief from the 60/40 rule. The Companies Act was recently amended to allow for companies fitting certain criteria to apply for Government’s permission to have over 40% of their shares foreign owned. Ascendant... Read more of this article
KeyTech No Longer Subject To 60/40 Rule
In a filing to the Bermuda Stock Exchange [BSX] KeyTech Limited confirmed that, effective 14 September, 2012, the company is no longer subject to the 60/40 rule. The Companies Act was recently amended to allow for companies fitting certain criteria to apply for Government’s permission to have over 40% of their shares foreign owned. In a filing to... Read more of this article
KeyTech Limited To Seek Relief From 60/40 Rule
KeyTech Limited will be seeking relief from the 60/40 rule, according to a filing with the Bermuda Stock Exchange [BSX]. KeyTech subsidiaries include the Bermuda Telephone Company, Logic Communications, Bermuda Yellow Pages Limited and WestTel Limited. The Companies Act was recently amended to allow for companies fitting certain criteria to apply for... Read more of this article
BSX CEO: 60/40 Rule A ‘Positive Development’
Bermuda Stock Exchange’s [BSX] CEO Greg Wojciechowski welcomed the easing of the 60-40 rule as a “positive development for the domestic capital market.” Mr. Wojciechowski said, “This is a significant step forward in the modernization and further develop of Bermuda’s domestic capital market. This development underscores the Government’s... Read more of this article
