In May of 2006, O’Shaughnessy Education Foundation Ltd, the
administrator of the Students Trust International Plan, acquired the
Bermuda Plan, an education savings plan previously administered by
Canadian Scholarship Trust. The Bermuda Plan has over $67 million in
assets under administration and has been operating since 1989. The
Bermuda Plan will be administered by O’Shaughnessy Education Fund
separate from the existing Canadian and US Dollar Students Trust
International Plans.
The following is a notice to the existing subscribers of the Bermuda
Plan:
Earlier this year we conducted a Subscriber vote in order to make changes to the Scholarship Agreement that you entered into with the predecessor administrator, Canadian Scholarship Trust Foundation.
Here is a summary of the vote results:
Decision |
Total Units |
% of Total |
% of Valid Votes |
|
|
|
|
Yes |
7134.1 |
86.8 |
92.6 |
No |
530.4 |
6.5 |
6.9 |
Undecided* |
38.0 |
0.5 |
0.5 |
Total Valid Votes |
7702.5 |
93.70 |
100 |
|
|
|
|
Spoiled Yes |
471.7 |
5.74 |
N/A |
Spoiled No** |
45.9 |
0.56 |
N/A |
Spoiled Undecided |
0.0 |
0.0 |
N/A |
Total Spoiled Votes |
517.6 |
6.30 |
N/A |
|
|
|
|
Total Votes Collected |
8220.1 |
100.00 |
N/A |
* Undecided - card returned but no box ticked to indicate yes or no vote
** Spoiled No - voted no but either Subscriber signature missing or joint signature missing
*** Spoiled Yes - voted yes but either Subscriber signature missing or joint signature missing
At least 2/3 of eligible votes received needed to be in favour in order for the changes to the scholarship agreement to take place. As a result of the final vote count the changes to the agreement are now in effect.
For enquiries regarding your Bermuda Plan, please contact us at:E-mail: bermuda@stiplan.com
Telephone: 905-903-3225
Fax: 416-946-1733
Bermuda Toll Free: 1-800-623-0299 (available in Bermuda only)Our preferred method of communication is by e-mail. In order to ensure that you receive all communications from us including your Annual Statement and Annual Report, please provide us with your most current email address. If you do not have an email address, please contact our Client Service Manager, Jeremy Riazon at the above numbers.
If you feel that you need more coverage for your child’s education costs please contact us and we will be pleased to assist you with an evaluation of what you will need and arrange for additional units for your child’s education plan.
Our regional managers are listed below to facilitate your inquiries on additional units:
| Asia Region Francis Wong at fwong_sti@yahoo.com |
| Japan Joe Kikuchi at info@kikuchigroup.com |
| Bermuda and Caribbean Region Reginald Minors at rminors@ibl.bm |
| Central and South America Region Ricardo Zubieta at zubieta@zabalcg.com |
| All Other Regions Jeremy Riazon at jriazon@stiplan.com |
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