LOM Approves Share Repurchase Programme
In a filing with the Bermuda Stock Exchange [BSX], LOM Financial Limited announced their 2023 share repurchase programme.
A spokesperson said, “In a filing with the Bermuda Stock Exchange LOM Financial Limited released the following: Notice is hereby given that at a meeting of the Board of Directors of LOM Financial Limited on 27 July 2023, the Directors authorized management to purchase up to 500,000 shares for cancellation, pursuant to Regulation 6.38 of the BSX Listing Regulations, at a price to be determined by them.
“The authorized repurchase represents approximately 9% of the overall listing securities of the Company, and was approved due to a disparity between the current share price and the current book value of shares.
“Under the previous share repurchase agreement approved by the BSX on 31 January 2023, the Company repurchased 50,000 shares at the average price of $5.10 per share during the first half of 2023.
“Neither the directors nor executive officers of the Company are aware of any associate nor insider of the Company or any associate of any insider of the Company who intends to sell listed securities to the Company during the course of the securities repurchase program.
“Neither the directors nor executive officers of the Company are aware of any direct or indirect benefits to any associate and insider of the Company or any associate of any insider of the Company by selling or not selling the listed securities during the currency of the securities repurchase program.”
