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LOM (Holdings) Limited – Share Repurchase Program
HAMILTON, Bermuda – 25 July, 2014 – LOM (Holdings) Limited (the “Company"; Ticker: LOM.BH), has announced that, at the Company’s Annual General Meeting held on July 22, 2014, the Board of Directors of the Company authorized management to purchase up to 200,000 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 3.30% 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 2013, the Company repurchased a total of 41,204 shares at the average price of $2.33 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.