Persona Inc. through its indirect, wholly owned subsidiary, Persona Communications (Barbados) Inc., acquired all of the common shares of Columbus Communications Ltd., on September 1, 2002. Persona Communications (Barbados) acquired Cable Bahamas Ltd.’s telecommunications, fibre and Internet businesses.
Columbus is the controlling shareholder of Cable Bahamas, a publicly-traded communications company that operates the cable television systems serving The Commonwealth of the Bahamas. Nassau-based Cable Bahamas provides advanced cable television services. Other services provided by the company include: Coral Wave, the company’s Internet division, provides high speed Internet services via its DOCSIS based cable modem technology; Caribbean Crossings Ltd., a wholly owned subsidiary, has recently completed a $US25 million project resulting in the construction of a sub-sea fibre optic network connecting the northern islands in the Bahamas and in the U.S. through a landing in southern Florida; and Maxil Communications Ltd., also a wholly owned subsidiary, commenced operations late in 2001 and provides international data centre and Web hosting facilities.
The purchase price for the shares in Columbus was satisfied by a cash payment of US$10 million and the issuance of 2.8 million common shares of Persona from treasury.
Benson•Myles in St. John’s and Labrador acted for Persona, with a team led by Wayne Myles and including Ben Kavanagh, Jason Edwards and Bernadette Cole. Benson•Myles was assisted by David Tennant, and Gabrielle Richards (tax) and Susan Goscoe (securities)
of McCarthy Tétrault LLP in Toronto, and by Sean McWeeney and Monique Cartwright of Graham, Thompson & Co. in Nassau.
Mark Connelly and Erinn Somerville of Davies Ward Phillips & Vineberg LLP acted for the vendor of the shares. Bahamian legal advice was provided to the vendor by Lester Mortimer and Chad Roberts of Callenders & Co.
Columbus is the controlling shareholder of Cable Bahamas, a publicly-traded communications company that operates the cable television systems serving The Commonwealth of the Bahamas. Nassau-based Cable Bahamas provides advanced cable television services. Other services provided by the company include: Coral Wave, the company’s Internet division, provides high speed Internet services via its DOCSIS based cable modem technology; Caribbean Crossings Ltd., a wholly owned subsidiary, has recently completed a $US25 million project resulting in the construction of a sub-sea fibre optic network connecting the northern islands in the Bahamas and in the U.S. through a landing in southern Florida; and Maxil Communications Ltd., also a wholly owned subsidiary, commenced operations late in 2001 and provides international data centre and Web hosting facilities.
The purchase price for the shares in Columbus was satisfied by a cash payment of US$10 million and the issuance of 2.8 million common shares of Persona from treasury.
Benson•Myles in St. John’s and Labrador acted for Persona, with a team led by Wayne Myles and including Ben Kavanagh, Jason Edwards and Bernadette Cole. Benson•Myles was assisted by David Tennant, and Gabrielle Richards (tax) and Susan Goscoe (securities)
of McCarthy Tétrault LLP in Toronto, and by Sean McWeeney and Monique Cartwright of Graham, Thompson & Co. in Nassau.
Mark Connelly and Erinn Somerville of Davies Ward Phillips & Vineberg LLP acted for the vendor of the shares. Bahamian legal advice was provided to the vendor by Lester Mortimer and Chad Roberts of Callenders & Co.
