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LOM (Holdings) Limited Announces Special Dividend
"On behalf of the Board of Directors I am pleased to announce a special dividend to shareholders of record on the 21st November 2003 and payable on the 5th December 2003 in the amount of $0.25 per share.
As our shareholders are well aware, the past two and a half years have been very challenging for the group as we have sought to expand our operations while coping with a decline in revenues due to depresssed cuswtomer activity during the recent bear market. As a result the company has not paid any dividends since becoming a public company in July of 2001.
I am pleased to say that the general upturn in the markets has had a positive effect upon our revenues with contributions from all divisions of the group. Our companies are generating cash and we have adequate capital to support all of our business enterprises given the current and foreseeable opportunities within the jurisdictions in which we operate.
The board has every reason to believe that the company will enjoy an increase in profits this year and our outlook for next year is positive.
We have decided that it is in our shareholders best interest to reward their patience in the group by distributing accumulated earnings that is surplus to our needs.
On behalf of the board I would like to thank our customers and staff for all of their efforts and support given to the company."
Signed by:
Scott Lines
Managing Director