FIDELITY BANK

October 1998 Table of Contents - Current Issue of The Abaco Journal - Abaco Bahamas' Home Page

FIDELITY BANK AND TRUST INTERNATIONAL
by Serena Williams

Fidelity Share Registrar and Transfer Agents Limited have been appointed registrar, transfer and dividend dispersing agent for Cable Bahamas Limited, the publicly traded in-home cable entertainment company. Previously with Coutts (Bahamas) Limited, the switch is seen as beneficial to Cable Bahamas' shareholders and would-be shareholders.

"Our previous transfer agent was Coutts, and as of September 1st, it is Fidelity," said Glenn Hill, senior vice president and chief financial officer, Cable Bahamas. "They will handle all of the documentation relating to our ordinary and preferred shares. We feel it is beneficial for our shareholders to be able to conduct their business in a one-stop shop environment, such as Fidelity offers."

The announcement should not come as a surprise to those who watch the financial services industry here. For the past 18 months, Fidelity has been successfully wooing clients by offering value added services. Cable Bahamas was obviously convinced.

In a determined marketing stance and in line with other jurisdictions, Fidelity made it known that it would make a market in all Bahamian public companies and buy and sell shares instantly, instead of using the Coutts 'waiting list' method. Immediately successful, the initiative was considered responsible for creating, for the first time ever, the active stock market enjoyed today, and informed opinion will tell you that Fidelity is now considered the leading market maker and trader of equities in The Bahamas.

Jim Graham, vice president of corporate affairs at Fidelity, explains why appointing Fidelity as transfer agent is beneficial to all involved. "For someone to be able to easily buy and sell shares and have them transferred into their name all in one place, even over the phone if a brokerage account is opened, is a much more efficient situation," said the Vice President. "If someone wants to buy Cable Bahamas shares today they just call us and we will be able to sell them shares instantly instead of the previous system of waiting to be matched with a seller."

This Issue Table of Contents - - Previous Issues

Other Abaco Bahamas Links
Home Page (oii.net) - Message Board (AbacoBoard.com) - Latest Happenings (AbacoToday.com)