Somers Limited January Share Repurchase
Somers Limited, a Bermuda exempted financial services investment holding company, announced that during the month of January 2014, Somers purchased 48,000 of its own common shares at an average cost of $12.04 per share. The Shares will be cancelled with immediate effect.
Somers Limited, formerly known as Bermuda National Limited, is a listed exempt financial services investment holding company whose major assets include its 100% owned subsidiary, Bermuda Commercial Bank Limited, one of Bermuda’s four licensed banks and a 62.5% holding in Waverton Investment Management Limited, a UK wealth manager with over US$7.0 billion assets under management.
The Group’s other investments include an approximate 75% economic interest in the London Stock Exchange listed Private & Commercial Finance Group PLC, a UK asset financing company, a 63.1% stake in Westhouse Holdings PLC, a corporate and institutional stockbroking group and a 57.0% interest in BSX listed West Hamilton Holdings Limited.
Somers has shareholders’ equity, after minority interests, of $160 million and no external debt. Somers’ shares are publicly traded and listed on the Bermuda Stock Exchange.
