Somers Limited Announces Shareholder Merger
In a filing with the Bermuda Stock Exchange [BSX], Somers Limited announced that, effective November 1, 2024, Somers’ largest shareholder, Union Mutual Pension Fund Limited [UMPFL] has merged with General Provincial Life Pension Fund Limited [GPLPFL], with GPLPFL being the continuing entity.
The full filing stated: “As a result, the 14,424,184 ordinary shares of Somers, representing 59.38% of issued share capital, that were owned by UMPFL are now owned by GPLPFL.
“The ultimate parent undertaking of UMPFL and GPLPFL is Somers Isles Private Trust Company Limited [SIPTCL] as trustee of various trusts of which Mr Duncan Saville is the beneficiary. Mr Saville is the owner of SIPTCL.”
