Somers Shareholders Approve Acquisition
In a filing with the Bermuda Stock Exchange [BSX], Somers Limited announced the results of their Special General Meeting, saying that Somers Shareholders have approved the Company’s acquisition of the majority stake in Australian financial institution RESIMAC for US $88.5 million.
The filing stated, “Somers Limited, a financial services investment holding company, is pleased to announce that further to the Company’s announcement on September 16, 2016, at a Special General Meeting held earlier today, Somers Shareholders have approved the Company’s acquisition of the majority stake in RESIMAC Limited [approximately 79.0%], a leading non-bank Australian financial institution, for US$88.5 million. The Acquisition is expected to be completed on September 29, 2016.”
