CARIBBEAN UTILITIES COMPANY,
LTD. CLASS A ORDINARY SHARES ARE LISTED FOR TRADING IN UNITED STATES FUNDS ON THE TORONTO STOCK
EXCHANGE (TRADING SYMBOL: CUP.U).
GRAND CAYMAN, Cayman Islands, March
30, 2012 /PRNewswire/ - 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.
SOURCE Caribbean Utilities Company, Ltd.
