Somers Ltd October 2017 Share Repurchases
In a filing with the Bermuda Stock Exchange [BSX], Somers Limited a financial services investment holding company, announced that during the month of October 2017, Somers purchased 1,200 of its own common shares at an average cost of $13.92 per share. The Shares will be cancelled with immediate effect.
Somers Limited is a listed financial services investment holding company whose major assets include its 100% owned subsidiary, Bermuda Commercial Bank Limited, one of Bermuda’s four licensed banks, a 59% holding in Homeloans Limited, a leading non-bank Australian financial institution with A$10.2 billion assets under management and a 62.5% holding in Waverton Investment Management Limited, a UK wealth manager with £5.2 billion assets under management.
The Group’s other investments include a 22% interest in Merrion Capital Holdings Limited, an Irish financial services group, a 75% stake in Stockdale Securities Limited, a UK corporate and institutional stockbroking group and a 57% interest in West Hamilton Holdings Limited, a Bermuda property management and investment company. Somers has shareholders’ funds of approximately $343 million and no debt. Somers’ shares are publicly traded and listed on the Bermuda Stock Exchange.
