Hashtag: #KeyTech
KeyTech Reports Earnings Of $5.7 Million
The KeyTech Group of Companies today [Oct 31] announced earnings of $5.7 million for the year ended March 31, 2014, compared to $8.3 million in the prior year. “Notwithstanding the economic growth challenges in Bermuda and Cayman, the last 12 months have been successful in terms of strategic positioning for the company,” said KeyTech CEO Lloyd Fray... Read more of this article
KeyTech Temporarily Suspends Dividends
In a letter to shareholders, KeyTech Limited announced that they decided to temporarily suspend the dividend for the quarters ended September 2014 and December 2014. “Over the years, KeyTech has maintained payment of a healthy dividend to our shareholders. The Board assures you that this decision was not taken lightly and therefore very much appreciates... Read more of this article
KeyTech’s “Transformational Transactions”
The KeyTech Group of Companies confirmed that its subsidiary, WestTel Limited [Logic Cayman], doing business in Cayman, has acquired British Overseas Territory Cable & Telecommunications, Ltd. [BOTCAT], a company incorporated in Cayman. BOTCAT owns WestStar TV Limited in Cayman and an interest in CableVision Holding Ltd. in Bermuda. Following completion... Read more of this article
KeyTech To Sell 100% Of Interest In BTC
The KeyTech Group of Companies announced that it is entering into an agreement for its subsidiary, WestTel Limited, doing business as Logic in the Cayman Islands [Cayman] to acquire British Overseas Territory Cable & Telecommunications, Ltd. [BOTCAT], a company incorporated in Cayman. In addition, the company will have a controlling interest in... Read more of this article
KeyTech Reduces Dividend From $0.12 To $0.09
The KeyTech Group of Companies announced a cash dividend of 9 cents a share payable on April 15, 2014, to shareholders of record as of April 3, 2014. The currently declared dividend rate of 9 cents per share is supported by the earnings of KeyTech’s core businesses, the Company said. The dividend is reduced from a recent quarterly rate of 12 cents... Read more of this article
29.9%: BFIC Increases Shareholding In KeyTech
KeyTech Limited announced that Bermuda First Investment Company Limited [BFIC] increased its shareholding in the Company to 29.9%. In a share transaction initiated on 16 September, 2013, BFIC purchased 935,000 KeyTech Limited common shares. Bermuda First Investment Company Limited is a Bermuda exempt investment holding company with significant investments... Read more of this article
KeyTech Annual Profit Increases To $8.3 Million
The KeyTech Group of Companies concluded fiscal year 2012/13 with a profit for the year of $8.3 million versus $7.2 million for the prior year. KeyTech is the parent company of companies including the Bermuda Telephone Company Limited, Logic Communications and the Bermuda Yellow Pages Limited. “Despite continuing challenges due to the economy, we... Read more of this article
Phillips To Succeed King As KeyTech Chairman
As announced at the 2012 Annual General Meeting, Dr. James King will be retiring as Chairman of the KeyTech Group of Companies at the Annual General Meeting on July 26th, 2013. The Board of Directors of KeyTech has identified Gary Phillips to succeed Dr. King as Chairman. Michael Mello, Chairman of the Governance Committee for KeyTech, says: “I would... Read more of this article
Nine Staff Made Redundant At Logic, North Rock
As a result of the merger of Logic and North Rock, the companies today [May 31] announced that they are going to trade collectively as Logic. The Company said that ”as a result of the merger and resulting duplication of positions, nine people were today made redundant, four of whom are non-Bermudian.” Vicki Coelho, CEO, Logic, says: “We... Read more of this article
KeyTech “Concerned” By RA Consultation
In a filing with the Bermuda Stock Exchange, KeyTech Limited released a statement in response to reported action by the Regulatory Authority [RA]. The RA said [PDF] they will “consider whether additional regulatory remedies are required to address cross-market ownership – that is, whether specific measures are required to address ownership by... Read more of this article
Video: KeyTech & North Rock Expand On Merger
North Rock CEO Vicki Coelho and KeyTech CEO Lloyd Fray held a press conference this morning [Apr 29] to expand on the amalgamation of the two internet providers, which has now taken place. Last week Logic and North Rock announced they agreed to amalgamate, and said the new entity will be a wholly owned subsidiary of KeyTech. KeyTech is the parent company... Read more of this article
Northrock & Logic Communications Amalgamate
Logic Communications and North Rock Communications announced today [Apr 26] they have agreed to amalgamate their businesses. The amalgamated entity will remain a wholly owned subsidiary of KeyTech Limited, and they said this amalgamation will result in “more investment in new products and superior customer service.” “We are creating... Read more of this article
‘Stagnant Economy’ Impacts KeyTech Revenue
KeyTech’s consolidated operating profit for the six-month period ending September 30th 2012 was $6,816,069, while operating profit for the same period last year was $9,133,389. Included in the results for the 6 months ended September 30th 2011, is a gain on the M3/ CellOne merger of $10,516,501, a writedown of assets associated with the exit of the... 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
KeyTech Profits Increase To $7.2 Million
KeyTech Limited released a preliminary announcement of results for the financial year ended 31 March, 2012, having concluded fiscal year 2011/12 with a profit for the year of $7.2 million versus $6.6 million for the prior year. The full statement follows below: In a filing to the Bermuda Stock Exchange (BSX), KeyTech Limited (Ticker: KEY.BH) released... Read more of this article
