This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:TBS International Limited Announces Proposed Redomiciliation in Ireland 2009-10-19 18:44 ET - News Release HAMILTON, BERMUDA
-- (MARKET WIRE)
-- 10/19/09  
TBS International Limited (NASDAQ: TBSI)
("TBS") announced today that its Board of Directors has unanimously
approved a transaction that will change the place of incorporation of the
company whose shares TBS shareholders own to Ireland from Bermuda. TBS
shareholders will be asked to vote in favor of the proposed move at a
special meeting of shareholders expected to be held within the next two to
three months.
If the conditions to the proposed transaction are satisfied, including
approval by TBS's shareholders and the Supreme Court of Bermuda, TBS
International plc, an Irish company ("TBS-Ireland"), will become TBS's
parent company. Current shareholders of TBS will become shareholders of
TBS-Ireland. TBS-Ireland will be registered with the U.S. Securities and
Exchange Commission ("SEC") and be subject to the same SEC reporting
requirements as TBS is today. TBS-Ireland's shares will trade on the
Nasdaq Global Select Market under the ticker symbol "TBSI", the same symbol
under which TBS shares are currently traded. TBS expects the move to take
effect shortly after shareholder approval.
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