LOM Financial December Share Repurchase
In a filing with the Bermuda Stock Exchange [BSX], LOM Financial Limited announced that the Company purchased a total of 59,400 shares at an average price of $2.7562 for cancellation during December 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 5,491,628 shares of Common Stock outstanding,” the company noted.
“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.”
“The current share repurchase program confirms our commitment to continually enhance value for our shareholders,” said Malcolm Moseley, Executive Vice President and Chief Financial Officer of LOM.
