Stolt-Nielsen SA (SNSA) has bucked the trend of companies leaving Bermuda after the company's shareholders approved a plan to migrate its parent company to the Island from Luxembourg, where SNSA is currently registered.

Under the plan, which was recommended by the SNSA board of directors, as reported in The Royal Gazette last month, SNSA and Stolt-Nielsen Ltd., a recently-formed Bermuda company wholly-owned by SNSA, will merge and amalgamate with each other, effective from today.

The new company will be named Stolt-Nielsen Ltd.

As required by the plan, shareholders of Stolt-Nielsen Ltd. also approved the plan at a special general meeting held in Bermuda this week.

SNSA shareholders registered in the Norwegian Central Securities Depository (Verdipapirsentralen or VPS) with DnB NOR Bank ASA, as VPS Registrar, at the close of business today will receive one share in the Bermuda company for each share in SNSA.

Today will be the last day of trading of SNSA's shares on the Oslo Bors, and the first day of trading of the Bermuda company's common shares on the Oslo Bors will be tomorrow.