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Somers Limited Advises of Utilico Investments Limited Exercise of Warrants
Hamilton, Bermuda: 10 November 2014 - Somers Limited, a financial services investment holding company, announces that on November 6, 2014 Utilico Investments Limited (“Utilico”) exercised warrants over 240,746 common shares (the Warrants”) in Somers at a price of US$14.34 per share. Utilico received the Warrants as part of Somers’ private placing in December 2012.
Following this exercise, Utilico is now interested in 5,598,691 common shares in Somers, representing approximately 48.5% of Somers issued share capital.
Media Contacts:
Alasdair Younie
Director
Somers Limited
Tel: +1 441-299-2897
Email: ay@icm.bm
Somers Limited is a listed financial services investment holding company whose major assets include its 100% owned subsidiary, Bermuda Commercial Bank Limited, one of Bermuda’s four licensed banks and a 62.5% holding in Waverton Investment Management Limited, a UK wealth manager with over US$8.7 billion assets under management. The Group’s other investments include an approximate 68% economic interest in the London Stock Exchange listed Private & Commercial Finance Group PLC, a UK asset financing company, an 84.6% stake in Westhouse Holdings PLC, a corporate and institutional stockbroking group, a 30% economic interest in Ascot Lloyd Holdings Limited, a UK independent financial adviser and a 21% economic interest in Merrion Capital Holdings Limited, an Irish financial services group. Somers has shareholders’ equity, after minority interests, of $189 million and no external debt. Somers’ shares are publicly traded and listed on the Bermuda Stock Exchange (Ticker: SOM.BH) and more details on the Company can be found at www.somers.bm.