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LOM (Holdings) Limited Share Repurchase
Hamilton, Bermuda, January 23, 2008 - LOM (Holdings) Limited today announced that on January 21, 2008 it purchased 40,000 of its own shares for cancellation at an average price of $3.85 per share.
The Company is authorized to purchase shares from time to time in the open market, or privately negotiated transactions, or block trades. The number of shares ultimately repurchased, and the timing of the purchases, will depend upon market conditions, share price, and other factors. The Company currently has 6,382,000 shares of Common Stock outstanding.
"The stock repurchase authorization demonstrates the confidence of our Board and Management and the strength of our balance sheet and cash flow. It is consistent with our strategy of providing value to our shareholders while maintaining flexibility to continue to invest in future growth opportunities," said Scott Lines, President and Chief Executive Officer.