CUC Subsidiary DataLink, Ltd. Receives Licence
March 28 2012 - 1:35PM
PR Newswire (Canada)
CARIBBEAN UTILITIES COMPANY, LTD. CLASS A ORDINARY SHARES ARE
LISTED FOR TRADING IN UNITED STATES FUNDS ON THE TORONTO STOCK
EXCHANGE . GRAND CAYMAN, Cayman Islands, March 30, 2012 /CNW/ -
Caribbean Utilities Company, Ltd. ("CUC") announced today that the
Cayman Islands Information and Communication Technology Authority
("ICTA") has granted its wholly owned subsidiary, DataLink, Ltd
("DataLink"), a licence to provide fibre optic infrastructure in
Grand Cayman. CUC and DataLink have entered into management and
maintenance, pole attachment and fibre optic agreements as approved
by the Cayman Islands Electricity Regulatory Authority. The ICTA
licence will now allow DataLink to assume full responsibility for
the existing Pole Attachment Agreements and Optical Fiber Lease
Agreement currently held by CUC with third party information and
communications technology (ICT) service providers. President and
CEO of CUC Mr. Richard Hew said, "I am pleased that the licence has
been granted as it will allow DataLink to provide access to fibre
optic and other facilities on commercial terms to companies on the
island, particularly those in the ICT sector. CUC has owned a fibre
optic network since 2000 and, through DataLink, can now provide an
additional service which will benefit both electricity and ICT
consumers in Grand Cayman." President and CEO of DataLink, Andrew
Small, anticipates that the existing Pole Attachment Agreements and
an Optical Fiber Lease Agreement will be assigned to DataLink in
the near future. DataLink presently has a Pole Attachment and
Optical Fiber arrangement with the Cayman Islands Government for
their CCTV project and the recent grant of this Licence will
benefit all stakeholders. "There is tremendous potential for
DataLink. Over the years, we have had a number of requests for
access to this fibre optic network and I am very pleased that we
are now in a position to make it available," Mr. Small said.
Caribbean Utilities Company, Ltd. ("CUC" or "the Company"), on
occasion, includes forward-looking statements in its media
releases, Canadian securities regulatory authorities filings,
shareholder reports and other communications. Forward-looking
statements include statements that are predictive in nature, depend
upon future events or conditions, or include words such as
"expects", "anticipates", "plan", "believes", "estimates",
"intends", "targets", "projects", "forecasts", "schedule", or
negative versions thereof and other similar expressions, or future
or conditional verbs such as "may", "will", "should", "would" and
"could". Forwardlooking statements are based on underlying
assumptions and management's beliefs, estimates and opinions, and
are subject to certain risks and uncertainties surrounding future
expectations generally that may cause actual results to vary from
plans, targets and estimates. Such risks and uncertainties include
but are not limited to operational, general economic, market and
business conditions, regulatory developments and weather
conditions. CUC cautions readers that actual results may vary
significantly from those expected should certain risks or
uncertainties materialize or should underlying assumptions prove
incorrect. Forward-looking statements are provided for the purpose
of providing information about management's current expectations
and plans relating to the future. Readers are cautioned that such
information may not be appropriate for other purposes. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise except as required by law. Caribbean
Utilities Company, Ltd. CONTACT: Letitia LawrenceVice-President of
Finance & C.F.O.Phone: (345) 949-5200Fax: (345) 949-4621
Copyright
Caribbean Utilities (TSX:CUP.U)
Historical Stock Chart
From Jun 2024 to Jul 2024
Caribbean Utilities (TSX:CUP.U)
Historical Stock Chart
From Jul 2023 to Jul 2024