LOM Financial Share Repurchase Programme
LOM Financial Limited, at a meeting of the Board of the Company held on 26 July 2024 announced, “The Board of Directors authorized management to purchase up to 400,000 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 8% 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, the Company repurchased 35,000 shares at an average price of $5.70 during the first half of 2024.
“At this time there is no specific repurchase anticipated; the facility is in place in order to repurchase in the market any shares that may be offered by shareholders.
“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.”
