Press Releases
You may also visit the
SEDAR website for a more comprehensive listing of CUC
press releases and continuous disclosure information,
including the Annual Information Form, Information Circular
and Management's Discussion & Analysis.Corporate Governance
The Board of Directors (the “Board”) of
Caribbean Utilities Company, Ltd. (the “Company”) is
responsible for the stewardship of the Company. The Board
will provide independent, effective leadership to supervise
the management of the business and affairs of the Company to
grow value in a profitable and sustainable manner.
SEDAR Filings
SEDAR is the System for Electronic Document
Analysis and Retrieval, the electronic filing system for the
disclosure documents of public companies and investment
funds across Canada.
|
Financial
Information
The results of the Third Quarter (September
30, 2009) are a reflection of the slowed economy now being
experienced on Grand Cayman. Electricity sales for the Third
Quarter totalled 153.3 million kiloWatt hours (kWh) in
comparison to 145.8 million kWh for the three months ended
October 31, 2008; an increase of 5%. For the nine months
ended September 30, 2009, electricity sales declined by 2%
to 415.6 million kWh, compared to 423.6 million kWh for the
nine months ended October 31, 2008. While the slowed economy
presents challenges, the Company remains confident that it
will be able to meet those challenges and preserve
shareholder value. In addition, while CUC continues to
examine ways to reduce expenditures, it remains focussed on
reliability, which is the characteristic that has made the
Company a central contributor to strong economic growth on
Grand Cayman. Reliability, measured by the Average System
Availability Index, was 99.5%, which exceeds Company
targets.
Shareholder and Corporate Information
2,512 Class A Ordinary registered
shareholders holding approximately 12.5% of the outstanding
shares are resident in the Cayman Islands, while the balance
are resident overseas. Holders of
Class B Preference Shares are primarily resident in the
Cayman Islands. Fortis Energy (Bermuda) Ltd., a wholly-owned
subsidiary of Fortis Inc., holds 13,565,511 Class A Ordinary
Shares, or 53.6% of the outstanding shares as of April 30,
2007.
Archives
|