Blue Capital Reinsurance Holdings will withdraw its common shares from listing on the Bermuda Stock Exchange (BSX) by July 31, 2020.
In the meantime, it will also delist from the New York Stock Exchange (NYSE) by around March 29 2020, Blue Capital said.
The voluntary delisting is part of Blue Capital's previously announced decision to cease active operations and pursue an orderly run-off of its liabilities and in force portfolio and return capital to shareholders. Blue Capital insisted its delisting from the exchanges will not impact its ability to make future distributions.
The company is to file a Form 25 (Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934) with the US Securities and Exchange Commission (SEC) to voluntarily withdraw its common shares from listing on the NYSE on or about March 19, 2020. It expects the delisting to be effective approximately 10 days after the filing of the Form 25.
After the effectiveness of the Form 25 filing, Blue Capital said it expects to file a Form 15 with the SEC, requesting the suspension of Blue Capital’s reporting obligations under Sections 13(a) and 15(d) of the Securities Exchange Act of 1934.
Following delisting and deregistration, the company believes that its common shares will continue to be quoted on the OTC Pink Open Market, a centralised electronic quotation service operated by the OTC Markets for over-the-counter securities. However, the company said it can give no assurance that trading in its common shares will continue in the future on the OTC Pink, on any securities exchange, or in any other quotation medium.
Blue Capital Re, Bermuda Stock Exchange, New York Stock Exchange