The Customer Share Purchase Plan (CSPP) was launched in January 1995 and provides an opportunity for customers residing in Grand Cayman to invest in CUC Class A Ordinary Shares.
Before becoming a member of the CSPP, new or existing Customers (who haven’t participated in the plan over two years) are required to visit McGrath Tonner, 5th Floor, Genesis Building, Genesis Close, George Town, Grand Cayman or contact (345) 949-2740 in person, present a government issued ID, a copy of their active CUC bill and complete the Identification Verification process prior to arranging payment.
CUC also reminds enrollees that if there are two or more named customers your electricity bill, all persons named on the bill must complete the Identification Verification process and sign the CSPP Participation Form.
Customers can now participate in the CSPP using one of the three contribution options: Electronic Funds Transfer, In-Person Bank Deposit (as outlined in the CSPP Brochure) or a Local Bank Draft payable to "Caribbean Utilities Company, Ltd." (not CUC) of not less than CI$25.00 (US$30.00) and individually nor collectively exceed the maximum total of CI$12,000.00 (US$14,400.00) per calendar year for the purchase of Class A Ordinary Shares. Cash and cheque payments are not accepted. Contributions that exceed the annual maximum, whether individually or collectively, will be declined. Funds of a declined application will be returned in due course.
Quarterly dividends paid on shares under the CSPP are automatically reinvested to purchase additional Class A Ordinary Shares for the participants account.
For further details on the CSPP and access to the various forms, click here.