Somers Shareholder Approve Merger With SNB
In a filing with the Bermuda Stock Exchange [BSX], Somers Limited announced that their shareholders “voted overwhelmingly” to approve the merger with SNB Investments Limited [SNB].
The full filing stated: “Somers Limited, a financial services investment holding company, is pleased to announce that further to the Company’s announcement on 8 July 2022, Somers’ shareholders voted overwhelmingly in favour at the Company’s Special General Meeting [SGM] held earlier today, to approve the merger with SNB Investments Limited [SNB].
“The votes at the SGM either by proxy or in person were:
- 21,969,163 shares For [representing 96.7% of Somers’ issued share capital]
- 3,719 shares Against
- 5,532 shares Abstained
“Accordingly, the merger with SNB is scheduled to complete, subject to Government and other approvals, on 26 July 2022 when the 6% loan notes issued to Somers’ shareholders not associated with SNB will be admitted to trading on the Bermuda Stock Exchange. Trading in Somers’ shares will be suspended pending closing of the merger”.
