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Jun 25, 1999

Government to sell B.E.L. shares

Belize Electricity Limited Chairman Robert Usher gave B.E.L. shareholders the details of the upcoming sale of B.E.L. shares by the Government of Belize at the sixth annual general meeting Thursday night at the Radisson. The government, which currently holds fifty one percent of the company’s ordinary shares and all the preference shares, will offer a major portion of its holdings for sale by the end of the year. In terms of B.E.L. activities, the company has also undertaken two feasibility studies. One is on the alternatives and environmentally friendly sources of power such as bagasse to meet future demand. According to Usher, alternative sources are being considered so the company can meet the stringent environmental standards. The other study is on the economic and environmental impact of further development on the Macal River, specifically the possibility of creating an upstream storage dam at the Chalillo site. B.E.L. has also implemented a toll free number for customer care. The number is 0-800-BELCARE.

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