Somers Ltd May 2018 Share Repurchases

June 9, 2018 | 0 Comments

In a filing with the Bermuda Stock Exchange [BSX], Somers Limited a financial services investment holding company, announced that during the month of May 2018, Somers purchased 10,700 of its own common shares at an average cost of $14.75 per share. The Shares will be cancelled with immediate effect.

The number of common shares in issue as at May 31, 2018 was 19,818,843 [net of 10,700 treasury shares].

Somers Limited is a listed financial services investment holding company whose major assets include: a 62% holding in Homeloans Limited, a leading non-bank Australian financial institution with A$11.1 billion assets under management; 100% shareholding in Bermuda Commercial Bank Limited, one of Bermuda’s four licensed banks and a 65.7% shareholder in UK specialist bank, PCF Group plc; and, a 62.5% holding in Waverton Investment Management Limited, a UK wealth manager with £5.5 billion assets under management.

Somers has shareholders’ funds of approximately $376 million and minimal debt. Somers’ shares are publicly traded and listed on the Bermuda Stock Exchange.

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