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LOM (Holdings) Limited – Share Repurchase Plan
Hamilton, Bermuda – 09 May, 2011 - In a filing to the Bermuda Stock Exchange (BSX), and pursuant to Regulation 6.38 of the BSX Listing Regulations, LOM (Holdings) Limited (“LOM”; Ticker: LOM.BH) gives notice that the Company intends to acquire the listed securities pursuant to a securities repurchase program.
The Board of Directors of the Company has authorized management to purchase shares for cancellation at a cost not to exceed $500,000.
The repurchase represents 2.75% of the overall listed securities of the Company.
The repurchase of the securities is due to a disparity between the current share price and the current book value of shares.
During 2010, the Company repurchased a total of 34,000 shares at the average price of $3.19 per share.
Neither the directors nor executive officers of the Company are aware of any associate nor insider of the Company or any associate of any insider of the Company who intends to sell listed securities to the Company during the course of the securities repurchase program.
Neither the directors nor executive officers of the Company are aware of any direct or indirect benefits to any associate and insider of the Company or any associate of any insider of the Company by selling or not selling the listed securities during the currency of the securities repurchase program.
Source: Waterstreet Corporate Services Limited, Registrar and Transfer Agent
About the LOM Group:
LOM is a publicly-held, international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bermuda and Bahamas. In business for nearly 20 years, LOM today has nearly $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world. LOM is publicly listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder’s equity of over $18 million.
Find out more about LOM at www.lom.com.