Somers Ltd January 2018 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 January 2018, Somers purchased 11,300 of its own common shares at an average cost of $14.28 per share. The Shares will be cancelled with immediate effect.
The number of common shares in issue as at January 31, 2018 was 19,829,643 [net of 11,300 treasury shares].
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.
