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Last Updated: Feb 13, 2017 - 1:45:37 AM |
 Nassau, New Providence - Cable Bahamas (CBL) proudly announced the immediate issue of a three-for-one share split. This gives individual Bahamian investors the opportunity to take part in the company's past and future success. Remarkably CBL's stock price has seen a 64% increase in the last 12 months.
The stock split was approved by the company's existing 2,400 shareholders at the recent AGM and will be realized by a three-fold reduction in the existing share price. With the price today sitting at $18.30, shares will now be reduced to $6.10 each. Existing shareholders will receive three shares for every existing one they hold so their shareholding will not be diluted.
The CBL shares are traded on BISX (Bahamas International Securities Exchange) and can be done through the following brokers: Fidelity, FamGuard, CFAL and LENO Corporate Services. These brokers will then set out the processes for purchase.
The effect of this is to make all shares now more affordable to Bahamians. "We are so excited today," said Anthony Butler, President and CEO. "The shares have risen to a record high due to our company's outstanding success and it is fantastic that this share split allows ordinary Bahamians to take part in this success."
The CBL shares have risen steadily over recent years due to international expansion and innovative business development. This has led to record financial successes that have enabled the share price to skyrocket. From an initial price twenty years ago of $1 per share, the shares have progressively matched CBL success to reach the record present level. The solid business plans of the company coupled with the new opportunities on the horizon can only auger well for further rises in the stock price.
"Success breeds success," commented Gary Kain, Chairman, "We are thrilled that the company's success can be shared with Bahamians throughout the country." The company has steadily progressed in the last few years and this is testament to the innovation of staff, the loyalty of customers and the diligence of shareholders. With this 3:1 stock split, it makes shares more affordable to small Bahamian investors and will expand the investor base.
It is no surprise that this decision coincides with CBL's bid to win the second mobile cellular license as well as its expansion in the US marketplace. Success on these fronts will undoubtedly increase the share value considerably, which will only mean great things for investors; both current and future ones. As a 100% Bahamian-owned company, CBL has already passed the first stage of the mobile license bid and is ready to compete strongly on the second stage of spectrum auction. Already CBL has made it widely known that We Are Ready....Turn Us On.
"It is incredible to see the rise in the share price in recent years," said Mr. Butler, "and very satisfying for the Bahamian public. Now, they too can be a part of the success." As they say, "you reap what you sow" and in CBL's case that can be a very beneficial saying for investors.
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