Lines Overseas Management (LOM) (Holdings) Limited this week celebrated six months of listing on the Bermuda Stock Exchange (BSX) and released a further ten percent of its ordinary shares.

These represent the ten percent of the outstanding non-founder shares to be released in accordance with the schedule noted in LOM's information memorandum.

In the first week of trading after its initial listing on July 20, LOM was the third most heavily traded stock on the BSX with 28,400 shares changing hands. The stock price ended the first week at $4, the same price it was initially offered, and since then have hit a high of $4.10 and low of $3.50. It was $3.75 yesterday.

At the time of listing, LOM were approved to list up to 8,503,400 shares of LOM (Holdings) Ltd. The number of ordinary shares to be listed comprised 6,237,400 issued shares of par value $0.10 and a further 2,266,000 shares which are subject to options held by LOM's board, executive and management.

LOM was granted a waiver by the exchange from the listing regulations requirement that all listed securities be freely transferable. Immediately on listing, ten percent of LOM's ordinary shares were available for trading on the BSX, with the remainder restricted to various degrees.

A further 25 percent will be available to be released in six months time with the remaining 55 percent to be released in 12 months.

The company has yet to be granted an exemption to the Island's 60/40 ownership rule.