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Benchmark: ‘We’ve turned the corner’
A BISX-listed company yesterday expressed optimism it has “turned the corner”, its principal adding that its settlement with US federal regulators did “not stipulate” the instant redemption of its $5 million preference share capital.
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Hard Rock eatery ‘valueless’, claims ex-Nassau owner
Hard Rock Cafe’s former Nassau franchisee has moved to overturn the dismissal of its $18.877 million damages claim for “deceptive and unfair business practices”, claiming its Charlotte Street restaurant was “valueless” and of no worth.
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Commission’s regulatory powers restored by court
The Appeal Court has overturned a verdict that prevented the Securities Commission “from acting in the public interest”, following its battle with a BISX-listed company over the latter’s compliance with regulatory capital standards.
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BISX-listed firm’s $5m ‘recapitalise’ after SEC settles
A BISX-listed company will have to undergo a $5 million ‘recapitalisation’ as a result of the deal struck by its principal and main subsidiary to settle a lawsuit against them by US federal regulators.
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Insurer ‘re-lends’ $15m to offshore bank affiliate
BISX-listed Colina Holdings has taken a $15 million credit facility from FirstCaribbean International Bank (Bahamas) and re-lent it - on the same terms and conditions - to its offshore bank affiliate.
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BISX: Majority of stocks don’t move more than 5%
The Bahamas International Securities Exchange (BISX) has “consistently” found evidence to support its method for calculating share prices, with most companies’ stocks never moving more than 5 per cent from the previous day’s close.
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AML chief urges change to BISX pricing method
AML Foods’ chief executive yesterday called for the Bahamas International Securities Exchange (BISX) to change the way it calculates daily stock prices, warning that a small 1,200 share trade can currently “wipe out” $1.5 million in value for his company’s investors.
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Bahamas waste eyes 20% rise in recycled supplies
By NEIL HARTNELL
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Commission's top executive departs
The Securities Commission’s executive director, Dave Smith, has been forced out of his post amid “industry concerns” about how the capital markets supervisor is approaching its regulatory mandate.
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CJ’s concerns over $3m City Markets pension deal
The now-Chief Justice had concerns over the deal that saw City Markets’ employee pension fund invest $3 million in a sale-and-leaseback deal over the now-defunct supermarket chain’s assets, saying he was “troubled” that the plan involved 25 per cent of the fund’s assets.
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Bahamas Waste shrugging off' squeeze' via 100% profit rise
Bahamas Waste yesterday expressed confidence it would generate a 100 per cent net income increase for the 2012 full year, despite experiencing a margin increase caused by key equipment costs more than doubling.
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Bank's equity investors see 60.7% income drop
Bank of the Bahamas International’s shareholders have seen a 60.7 per cent decline in net income available to them from the 2012 financial year, largely due to increases in preference share dividends and loan loss provisions.
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Bahamas Waste chief: 'Stock 30% below true value'
Bahamas Waste yesterday became the latest BISX-listed company to unveil a share buyback programme, its managing director suggesting that its stock was undervalued by around 30 per cent.
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Attorney urges 'debt for equity' mortgage relief
A LEADING attorney yesterday proposed a 'debt-for-equity' style-swap as the solution to the Bahamas' existing mortgage woes, telling Tribune Business that to force commercial banks into losses and capital write-offs could endanger the nation's financial system and create even greater problems.
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AML bucks 'post-Xmas lag' via 10% same-store rise
AML bucks 'post-Xmas lag' via 10% same-store rise By NEIL HARTNELL Tribune Business Editor AML Foods yesterday said fears of a top-line hit from consumers taking ever-longer to recover from Christmas had failed to materialise, with its same-store sales
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AML bucks 'post-Xmas lag' via 10% same-store rise
AML bucks 'post-Xmas lag' via 10% same-store rise By NEIL HARTNELL Tribune Business Editor AML Foods yesterday said fears of a top-line hit from consumers taking ever-longer to recover from Christmas had failed to materialise, with its same-store sales
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