CABLE BAHAMAS PREFERENCE SHARES – LISTED ON BISX
The Bahamas International Securities Exchange announced today that Cable Bahamas Limited (“CAB”) has successfully completed the process for two preference shares to be listed on the Exchange. The two securities will now trade through the Exchange’s trading system, The Bahamas Automated Trading System (BATS), information for these securities is presented below:
• Cable Bahamas Series 6 Preference Shares will be listed under the symbol CAB6
• Cable Bahamas Series 8 Preference Shares will be listed under the symbol CAB8
BISX has been listing the secondary issues of BISX listed issuers since 2008, and these securities become the 4th and 5th preference shares listed respectively. A listing on BISX for secondary issues allows investors and issuers to benefit from increased liquidity in the secondary market for their securities due to the centralization of the market. Additionally investors with listed secondary offerings benefit from a transparent process with financial reporting due to their investments being listed on a regulated exchange.
CAB8 has the added distinction of becoming the first United States Dollar (US$) security to be listed and traded on the Exchange. However, only investors with Central Bank of The Bahamas Exchange Control Approval would be eligible to trade this security. Other than the fact that the security is denominated in US$, CAB8 will trade over the Exchange under the same rules as every other listed security.
Mr. Williams, Senior VP Finance noted that Cable Bahamas was delighted to list its preferred shares on BISX. “This is a step in the right direction and will provide access to all market participants to take advantage of trading in our securities. I believe our preferred shareholders are also very pleased to have the trading opportunities that BISX provides as it will likely boost liquidity in these shares”.
Speaking about the CAB listings, Keith Davies, the BISX Chief Executive Officer stated: “I would like to congratulate Cable Bahamas for continuing to support the development and expansion of the BISX market through the listing of their two preference shares. Not only have they expanded the market with these two listings but they are listing the first US$ security available for trading on the Exchange which is another milestone in the history of the Exchange. Cable Bahamas has been listed and traded on the Exchange since our first trading day, back on 11 May 2000, and we look forward to their continued involvement in the market as their company continues to grow and expand.”
NOTE: Attached to this message is the BISX Formal Trading Notice for the Cable Bahamas Limited Series 6 Preference Shares and the Series 8 Preference Shares. This notice advises the public of the securities to be listed on the Exchange and the trading symbol of the listed securities.
For Additional Information Contact:
Mrs. Elude Michel Sturrup