Ascendant AGM postponed

  • Meeting off: Ascendant Group, parent company of Belco, has postponed its annual general meeting indefinitely (File photograph)

    Meeting off: Ascendant Group, parent company of Belco, has postponed its annual general meeting indefinitely (File photograph)


The annual general meeting of Ascendant Group Ltd, scheduled to be held March 27, has been postponed due to the Covid-19 pandemic.

The board of directors of Ascendant, which includes power utility Belco among its holdings, said in a letter to shareholders that a new date will be announced “once the Bermuda Government indicates that it is safe to do so”.

In relation to the pending sale of Ascendant to Algonquin Power&Utilities Corp, the board said it “will continue to work with the Minister of Home Affairs and the Regulatory Authority to ensure that the regulatory approvals required for the sale to proceed are obtained as expeditiously as possible”.

It added: “We will continue to assess the situation in Bermuda and ensure that all applicable laws and proper procedure relating to the postponement and holding of the AGM are complied with and that shareholders’ rights are upheld.

“We will communicate with shareholders once a decision has been made on a new date for the AGM and proceed in accordance with the Companies Act 1981 and the company’s constitutional documents.”

You must be registered or signed-in to post comment or to vote.

Published Mar 20, 2020 at 11:28 am (Updated Mar 20, 2020 at 11:28 am)

Ascendant AGM postponed

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • Do you think the Government has taken the necessary steps to protect the public against the risk of the Covid-19 virus?
    • Yes
    • 55%
    • No
    • 45%
    • Total Votes: 5216
    • Poll Archive

    Today's Obituaries

    eMoo Posts