This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.
Somers Limited - Sale of investment in Merrion Capital Holdings Limited (“Merrion”)
Hamilton, Bermuda – November 2, 2018 – In a filing with the Bermuda Stock Exchange (“BSX”), Somers Limited (“Somers the “Company” or the “Group”); Ticker: SOM.BH, a financial services investment holding company, announces that it has completed the sale of its investment in the Irish stockbroker, Merrion, to Cantor Fitzgerald Ireland Limited (“Cantor Fitzgerald”).
November 2, 2018
Somers Limited
Sale of investment in Merrion Capital Holdings Limited (“Merrion”)
For Immediate Release - (Hamilton, Bermuda) Somers Limited (“Somers”), a financial services investment holding company, announces that it has completed the sale of its investment in the Irish stockbroker, Merrion, to Cantor Fitzgerald Ireland Limited (“Cantor Fitzgerald”). Somers invested in Merrion in 2014 and the sale of the investment recognizes a fundamental change in the Irish stockbroking market where scale has become increasingly important. The combination of Merrion and Cantor Fitzgerald provides that scale and represents a good opportunity for Somers to exit the investment.
The proceeds from the sale will be used for new investment purposes and to reduce debt.
Media Contacts:
Alasdair Younie
Director
ICM Limited
Tel: +1 441-299-2897
Email: ay@icm.bm
# # #
For more information on the Bermuda Stock Exchange (BSX), contact James McKirdy at 1-441-292-7212 or info@bsx.com. Information is also available at bsx.com and on Bloomberg at BSX the BSX was founded in 1971 and is the world’s leading fully electronic offshore securities market. The BSX list equities, mutual funds and bonds, depository receipts and derivative warrant securities. The BSX is a full member of the World Federation of Exchanges (WFE) and an affiliate member of IOSCO. In addition, the BSX is recognized by the U.S. Securities & Exchange Commission (SEC) as a Designated Offshore Securities Market under Regulation S; The Financial Services Authority in the UK as a Designated Investment Exchange; HM Revenue & Customs in the UK as a Recognized Stock Exchange; The Bermuda Monetary Authority as a Recognised Investment Exchange and as an Approved Stock Exchange under Australia’s Foreign Investment Funds (FIF) taxation rules.