Cayman National Announces Normal Course Issuer Bid
| Date | 23-Sep-2009 |
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Cayman
National Announces Normal Course Issuer Bid George
Town, Grand Cayman, Cayman Islands – 22 September 2009 -- Cayman National Corporation Ltd. (CSX:
CNC KY) today announced that a Notice of Intention to make a Normal Course
Issuer Bid has been filed with and accepted by the Cayman Islands Stock Exchange
(“CSX”). Under its normal course issuer bid, CNC may purchase up to 100,000
of
its common shares, representing less than 0.5% of the shares fully paid, issued,
and outstanding. CNC will cancel
any common shares purchased pursuant to the normal course issuer bid. The
purchases may commence on 22 September 2009 and will terminate on 21 September
2010, or on such earlier date as CNC may complete its purchases pursuant to the
Notice of Intention as filed. Purchases will be made on the open market by CNC
through Cayman National Securities Ltd. using the facilities of the CSX. The
prices that CNC will pay for any purchased common shares will be the market
price of such shares on the CSX at the time of acquisition. CNC will make no
purchases of common shares other than open-market purchases.
CNC
makes its normal course issuer bid as it believes that its common shares are an
attractive investment and that normal course purchases represent an excellent
opportunity to enhance value for shareholders. #
# # About
Cayman National Cayman
National Corporation Ltd. is the largest financial services company based in the
Cayman Islands, providing banking, trust and company management, fund
administration, wealth management, and insurance services to clients locally and
around the world, from the Cayman Islands and the Isle of Man, with offices in
Panama and Dubai. CNC is publicly
traded on the Cayman Islands Stock Exchange. Contact:
Email:
patricia.estwick@caymannational.com
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