LOM Financial September Share Repurchase
In a filing with the Bermuda Stock Exchange [BSX], LOM Financial Limited announced that, during the month of September, the Company purchased a total of 25,000 shares at an average price of $2.75 for cancellation.
The full filing stated: “LOM Financial Limited has announced that the Company purchased a total of 25,000 shares at an average price of $2.75 for cancellation on 10 September 2019, pursuant to Regulation 6.38 of the BSX Listing Regulations.
“LOM is authorised to purchase shares from time to time in the open market, or privately negotiated transactions, or block trades. The number of shares ultimately repurchased, and the timing of the purchases, will depend upon market conditions, share price, and other factors. LOM currently has 5,551,028 shares of Common Stock outstanding.”
“These stock repurchases demonstrate our confidence in the company and its future and represents our commitment to enhance value for shareholders,” said Malcolm Moseley, Executive Vice President and Chief Financial Officer of LOM.
“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.”
