Business in brief

CUC declares dividend 

Caribbean Utilities Company has declared a dividend of US$0.165 per class A ordinary share, or an annualized dividend of US$0.66 per share. The dividend will be payable Sept. 15 to shareholders of record Sept. 2.  

CUC provides electricity to Grand Cayman under a non-exclusive Electricity Generation License expiring in 2029 and an exclusive Electricity Transmission and Distribution License expiring in 2028. 

Mourant Ozannes appoints global head of business development 

Offshore law firm Mourant Ozannes has recruited David Byrne as global head of Business Development and Marketing. 

Mr. Byrne previously held senior roles in the legal and financial services sector with Clifford Chance, Linklaters and Barclays Bank Plc.  

At Clifford Chance, he was global head of business development for finance and capital markets, and at Linklaters he held the position of head of marketing for finance and projects. Before his career in legal services, he spent 10 years in senior business development, product development and marketing roles at Barclays covering the private equity, private client and offshore markets.  

Mr. Byrne will be based in Mourant Ozannes’s Jersey office with responsibility for a business development and marketing team spanning the firm’s offices in BVI, the Cayman Islands, Guernsey, Hong Kong, Jersey and London. 

Ogier recruits two new articled clerks 

Ogier has appointed two new articled clerks, Paul Ebanks and John Carey, for an 18-month term. 

Mr. Ebanks has a bachelor of laws degree from Nottingham Law School and recently completed his Legal Practice Course at BPP Law School, Manchester. Mr. Ebanks also holds a master’s in business administration from the International College of the Cayman Islands and a BBA in finance from Temple University, Philadelphia. 

Mr. Carey has a bachelor of laws degree from the University of Liverpool and completed his Professional Practice Course in Law at the Truman Bodden Law School in 2012, with commendation. He was admitted to the Bar in Fiji in 2013. Mr Carey holds a number of other professional qualifications, including an MBA specialization in finance from the University of Leicester, a bachelor of science in engineering from Walla Walla University, Washington, and a diploma in pre-engineering from the Northern Caribbean University, Jamaica. 

Ogier Cayman’s Articled Clerk program provides practical training in the main areas of legal work undertaken by the firm. Articled clerks work alongside partners and associates to gain exposure to top-tier international work, develop their expertise across Ogier’s main service lines and work on cases and transactions on a rotational basis. 

Ogier will be interviewing additional articled clerk applicants to start in February 2015. Applications will be accepted starting in December 2014; interested candidates should contact [email protected] for more information. 

Appleby acted in Höegh LNG IPO 

Appleby acted as Bermuda and Cayman counsel to Höegh LNG Holdings Ltd. and its subsidiaries in the formation of Höegh LNG Partners LP, a Marshall Islands limited partnership (MLP) and the initial public offering of limited partner interests in the MLP. 

The offering of 11,040,000 common units was priced at US$20 per unit when trading began on Aug. 7. The offering closed on Aug. 12. 

The common units offered represent a 42 percent limited partner interest in the MLP. Höegh LNG Holdings Ltd. owns the MLP’s general partner and the remaining limited partner interest. 

The MLP was formed to own, operate and acquire floating storage and regasification units, liquefied natural gas carriers and other liquefied natural gas infrastructure assets under long-term charters. 

Höegh LNG Holdings Ltd., a Bermuda exempted company, is listed on the Oslo Stock Exchange. Höegh LNG provides floating LNG infrastructure services, including regasification, transportation and production services under long-term contracts. 

Appleby provided Bermuda and Cayman legal services in connection with the transaction. The Appleby Bermuda team was led by Cameron Adderley, Global Practice Group Head Corporate, assisted by Corporate & Commercial Partner Timothy Counsell and associates Jerome Wilson and Tiffany Boys. The Appleby Cayman team was led by Corporate & Commercial Partner Simon Raftopoulos with Senior Associate Caroline Barton. 

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