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Consolidated Water Co. Ltd. Reports Change in Issuer Status
By: Marketwired .
Jan. 11, 2013 04:15 PM
GEORGE TOWN, GRAND CAYMAN, CAYMAN ISLANDS -- (Marketwire) -- 01/11/13 -- Consolidated Water Co. Ltd. (NASDAQ: CWCO), which develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent, today announced that, effective with its 2013 fiscal year, the Company no longer meets the definition of a "Foreign Private Issuer" under the rules and regulations of the U.S. Securities and Exchange Commission ("SEC") due to the fact that U.S. citizens now constitute the majority of the Company's directors and executive officers.
The Company presently files Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K with the SEC. As a result of the loss of its foreign private issuer status, the Company will now be required to file the proxy statements for its shareholder meetings with the SEC. In addition, the Company's directors and executive management are subject to the requirements of Section 16 of the U.S. Securities Exchange Act of 1934, as amended. Consequently, such individuals must file beneficial ownership reports with the SEC and are subject to liability for any profit derived by them as the result of the purchase and sale or sale and purchase of the Company's ordinary shares of common stock occurring within a period of six months.
About Consolidated Water Co. Ltd.
Consolidated Water Co. Ltd. develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent. The Company operates water production and/or distribution facilities in the Cayman Islands, Belize, the British Virgin Islands and The Commonwealth of The Bahamas.
Consolidated Water Co. Ltd. is headquartered in George Town, Grand Cayman, in the Cayman Islands. The Company's ordinary (common) stock is traded on the NASDAQ Global Select Market under the symbol "CWCO". Additional information on the Company is available on its website at http://www.cwco.com.
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