VOLUME 12 ISSUE 42

Page 1

OCTOBER 22ND, 2016 – OCTOBER 29TH, 2016

VOLUME 12 - NO. 42

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Website: www.suntci.com

Email: sun@suntci.com

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NEW GOVERNOR WANTS TO SOLVE TCI’s PROBLEMS

D

r. John Freeman, the new Governor of the Turks and Caicos Islands, says is a “straightforward” person, who intends to listen more than he talks, while being in a problem-solver. He made these statements during his swearing-in ceremony in the House of Assembly in Grand Turk, on Monday, October 17th, 2016. “I want to work closely with the TCI government, our government,” he said. “I want to contribute to problem-solving initiatives of benefit to TCI. I want to be a co-operative partner going forward, listening more than talking. I want to help find common sense answers to matters of concern to these Islands. And, of course and in all humility, I realise and start from the recognition that the people of these Islands know the kind of future they want to have for themselves and for their families; and ultimately it is for them to decide what future they want and for them to work for that future. As your Governor I want to contribute positively to the attainment of that future.” Continued on Page 5

New Governor Dr. John Freeman being sworn in by Chief Justice Margaret Ramsay-Hale, while Speaker of the House of Assembly Hon. Robert Hall and Clerk of Parliament Tracey Parker look on.

Fortis Inc. now trading on the New York Stock Exchange Fortis Inc., the Canadianbased parent company of FortisTCI, made its debut on the New York Stock Exchange (NYSE) on Friday, October 14, 2016, marking a historic milestone for the Company. President & CEO Barry Perry celebrated the occasion in New York today by carrying out the ceremonial ringing of the bell to open the exchange for trading. Mr. Perry was joined on the floor and the podium of the exchange by executives and CEO’s from across the Fortis Group, including FortisTCI’s CEO, Eddinton Powell, CFO, Ruth Forbes, and Manager of Plant Operations, Alvejes Desir. Celebrations were also held across all Fortis Companies in Canada, the United States, and

the Caribbean, including the Turks and Caicos Islands. The NYSE is known as one of the world’s premier exchanges and will give Fortis access to capital markets in the United States where there is a larger investor base. Fortis Inc. will also remain listed on the Toronto Stock Exchange (TSX) in Canada where it was founded making it a dual listed company. Enhancing the NYSE listing, Fortis on Friday also closed on an approximately US$11.3 billion acquisition of ITC Holdings Corp. (“ITC”), the largest independent electric transmission company in the United States. The acquisition puts Fortis in the top 15 regulated

investor-owned utilities in North America with assets totalling nearly CAD$45 billion. FortisTCI President & CEO Eddinton Powell said, “This is a monumental achievement by our parent company, coupled with the just completed acquisition of ITC. The Turks and Caicos Islands can be proud of the strategic relationship it has with Fortis; a symbiotic, strategic relationship that includes the bond investment that the people of the Turks and Caicos Islands have in the local subsidiary (FortisTCI) through the National Insurance Board (NIB). This occasion further solidifies our commitment to our customers in the Turks and Caicos Islands.”

L to R: Fortis Inc. President & CEO Barry Perry, FortisTCI VP of Finance, Human Resources, IT & CFO Ruth Forbes, FortisTCI President & CEO Eddinton Powell


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