LOM (Holdings) Limited: Share Repurchase
In a filing to the Bermuda Stock Exchange (BSX), LOM (Holdings) Limited announced that in April, 2011 it purchased 14,500 of its own shares for cancellation at the average price of $3.07 per share.
LOM is authorized 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 6,173,450 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/
