Hashtag: #KeyTech
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
KeyTech Six Month Net Income
KeyTech’s consolidated net income for the six month period ended 30th September 2011 is $9,196,458 — three times the $3,145,031 net income the Bermuda telecommunications company reported for the same period last year. Included in the current six month period is a gain of $10,516,501 arising on the merger of M3 Wireless and CellularOne reflecting... Read more of this article
KeyTech CEO: Fray To Replace Lines
[Updated] Sheila Lines will be retiring as CEO of The KeyTech Group of Companies and BTC CEO Lloyd Fray will assume the post. KeyTech’s subsidiaries include The Bermuda Telephone Company, Logic Communications, and the Bermuda Yellow Pages. In a filing to the Bermuda Stock Exchange, KeyTech Limited today [Oct.10] announced the appointment of Mr.... Read more of this article
Changes To Keytech Board Approved At AGM
KeyTech, whose subsidiaries include The Bermuda Telephone Company, Logic Communications, Bermuda Yellow Pages, and M3 Wireless which recently merged with CellOne, announced the following changes in their Board, which were approved at the Annual General Meeting on Friday, 22nd July, 2011. Mr. Colin Williams retired as a Director of the Company, having... Read more of this article
KeyTech’s Net Income Drops To $5.9m
The KeyTech Group of Companies concluded fiscal year 2010/11 with a net income of $5.9 million, or $10.3 million excluding early retirement and redundancy costs. The early retirement and staff separation expenses of $4.4 million substantially impacted the current fiscal years’ financial results. Prior year net income was $6.3 million, $9.2 million... Read more of this article
