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LOM Financial Limited to purchase shares for cancellation.
HAMILTON, Bermuda – 5 August, 2015 – LOM Financial Limited (the “Company"; Ticker: LOM.BH), has announced that, at a Board Meeting on July 29th 2015, 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 3.31% 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 2014, the Company repurchased a total of 42,500 shares at the average price of $2.21 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 the LOM Financial Group:
LOM (www.lom.com) is a publicly-held, international financial services company, providing a complete range of investment services and products, with subsidiaries in Bermuda, Bahamas and the UK. In business for over 22 years, LOM provides brokerage, custody, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers around the world. LOM Financial Limited is publicly listed on the Bermuda Stock Exchange (symbol LOM.BH), and is the parent to its regulated subsidiaries – LOM Financial (Bermuda) Limited (formerly LOM Stockbrokers Ltd.), LOM Stockbrokers International Ltd., LOM Asset Management Limited, and Global Custody & Clearing Limited.