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LOM announces share repurchase programme

LOM (Holdings) Limited has announced a share repurchase programme.

In a filing with the Bermuda Stock Exchange, LOM said that at the company’s Annual General Meeting on Tuesday, the Board authorised management to purchase up to 100,000 shares for cancellation, pursuant to Regulation 6.38 of the BSX Listing Regulations, at a price to be determined by them.

The authorised repurchase represents approximately 1.63 percent of the overall listed securities of the international financial services company, and was approved due to a disparity between the current share price and the current book value of shares, LOM said.

During 2012, the Company repurchased a total of 6,100 shares at the average price of $2.45 per share.

LOM ioffers investment services and products through its regulated subsidiaries in Bermuda and Bahamas. In business for over 20 years, LOM today has over $640 million in client assets under administration.

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Published July 18, 2013 at 9:00 am (Updated July 17, 2013 at 8:07 pm)

LOM announces share repurchase programme

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