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LOM (Holdings) Limited – Announces Increase in Share Repurchase Program
HAMILTON, Bermuda – 01 November, 2013 – In a filing with the Bermuda Stock Exchange, LOM (Holdings) Limited (the “Company"; Ticker: LOM.BH) announced that at a meeting of the Board of Directors held on October 29, 2013, the Directors authorized management to purchase up to a further 50,000 shares thereby bringing the total shares authorized to be repurchased for cancellation to 150,000 shares, pursuant to Regulation 6.38 of the BSX Listing Regulations, at a price to be determined by them.
The authorized repurchase represents approximately 2.45% 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.
From January 2013 to date, the Company repurchased a total of 31,204 shares at the average price of $2.3377 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.
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 $15.7 million.
Find out more about LOM at www.lom.com