CARIBBEAN UTILITIES COMPANY, LTD. CLASS A ORDINARY SHARES ARE LISTED FOR TRADING IN UNITED STATES FUNDS ON THE TORONTO STOCK EXCHANGE.
GRAND CAYMAN, Cayman Islands, April 15, 2016 /CNW/ - President and CEO of Caribbean Utilities Company, Ltd. ("CUC" or "the Company") Mr. Richard Hew rang the bell to open the day's trading on the Toronto Stock Exchange ("TSX").
This historic moment is part of the Company's 50th anniversary celebrations and also marks 25 years of trading on the TSX.
Mr. Hew stated that, "It is a tremendous honour to be present at the Toronto Stock Exchange and to start the day's trading. This is indeed a momentous occasion for the Company and a fitting way to start our 50th anniversary celebrations. CUC is proud to be associated with the Toronto Stock Exchange for the past 25 years. The initial public offering provided the strong financial platform that has allowed CUC to grow into the strong Company it is today."
CUC will reach the 50th Anniversary of its incorporation on May 10, 2016. CUC became the first Cayman-based company to be listed on an international stock exchange when the Company's shares commenced trading on the Toronto Stock Exchange at the opening of business on Tuesday, September 11, 1990.
Today's event was witnessed by former President and CEO of CUC, Mr. Peter Thomson, Former Corporate Secretary Mr. Scott Hawkes as well as the Company's current Vice President Finance & Corporate Services and Chief Financial Officer, Ms. Letitia Lawrence and Assistant Corporate Secretary, Ms. Claire Stafford. Also in attendance were representatives from CUC's majority shareholder Fortis Inc. and representatives from some of the Company's dedicated service providers, Blake, Cassels & Graydon LLP, CST Trust Company and Merrill Corp.
CUC provides electricity to Grand Cayman, Cayman Islands, under an Electricity Generation Licence expiring in 2029 and an exclusive Electricity Transmission and Distribution Licence expiring in 2028. Further information is available at www.cuc-cayman.com.
Caribbean Utilities Company, Ltd. ("CUC" or "the Company"), on occasion, includes forward-looking statements in its media releases, Canadian securities regulatory authorities filings, shareholder reports and other communications. Forward-looking statements include statements that are predictive in nature, depend upon future events or conditions, or include words such as "expects", "anticipates", "plan", "believes", "estimates", "intends", "targets", "projects", "forecasts", "schedule", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". Forward-looking statements are based on underlying assumptions and management's beliefs, estimates and opinions, and are subject to certain risks and uncertainties surrounding future expectations generally that may cause actual results to vary from plans, targets and estimates. Such risks and uncertainties include but are not limited to operational, general economic, market and business conditions, regulatory developments and weather conditions. CUC cautions readers that actual results may vary significantly from those expected should certain risks or uncertainties materialize or should underlying assumptions prove incorrect. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
SOURCE Caribbean Utilities Company, Ltd.
Image with caption: "CUC President & CEO, Richard Hew, opened the TSX Market on April 15 to celebrate CUC's 50th Anniversary. From Left: Peter Thomson, Letitia Lawrence, Richard Hew, Claire Stafford and Scott Hawkes. (CNW Group/Caribbean Utilities Company, Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160415_C7070_PHOTO_EN_667129.jpg
For further information: Letitia Lawrence, Vice President Finance & Corporate Services & C.F.O., Phone: (345) 949-5200, Fax: (345) 949-4621