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LOM (Holdings) Limited Announces Share Repurchase Program
HAMILTON, Bermuda: 17 July, 2013 – In a filing with the Bermuda Stock Exchange, LOM (Holdings) Limited ("the Company"; Ticker: LOM.BH) announced that at the Company’s Annual General Meeting held on July 16, 2013, the Board of Directors of the Company authorized management to purchase up to 100,000 shares for cancellation, pursuant to Regulation 6.38 of the BSX Listing Regulations, at a price to be determined by them.
The authorized repurchase represents approximately 1.63% of the overall listed securities of the Company, and was approved due to a disparity between the current share price and the current book value of shares.
During 2012, the Company repurchased a total of 6,100 shares at the average price of $2.45 per share.
About LOM (Holdings) Limited
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 over 20 years, LOM today has over $640 million 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 $16 million.