Somers Ltd August 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 August 2018, Somers purchased 2,576 of its own common shares at an average cost of $16.25 per share. The Shares will be cancelled with immediate effect.
The number of common shares in issue as at August 31, 2018 was 20,059,761 [net of 2,576].
Somers Limited is a listed financial services investment holding company whose major assets include: a 62.3% holding in Homeloans Limited, a leading non-bank Australian financial institution with approximately A$12 billion assets under management; 100% shareholding in Bermuda Commercial Bank Limited, one of Bermuda’s four licensed banks, a 65.7% shareholding in UK specialist bank, PCF Group plc; and, a 62.5% holding in Waverton Investment Management Limited, a UK wealth manager with £5.6 billion assets under management.
Somers has shareholders’ funds of approximately US$378 million and minimal debt. Somers’ shares are publicly traded and listed on the Bermuda Stock Exchange.
