Bermuda National announces share repurchase programme
Bermuda National Limited, a Bermuda exempted financial services investment holding company, has announced it has introduced a share repurchase programme, according to the Bermuda Stock Exchange. (BSX)
It stated: “The programme will enable BNL to repurchase, at its discretion, up to 100,000 common shares at market prices on the Bermuda Stock Exchange.”
And the BSX said that repurchases made via the programme may start on October 2.
The BSX said that the Bermuda National Limited is a listed exempt financial services investment holding company whose major assets include its 100 percent owned subsidiary, Bermuda Commercial Bank Limited, one of Bermuda's four licensed banks and a 62.5 percent holding in J O Hambro Investment Management Limited, a UK wealth manager with $6.0 billion assets under management. The Group's other investments include an economic interest of 66 percent in the London Stock Exchange listed Private & Commercial Finance Group PLC, a UK asset financing company, comprising a 29.3 percent equity interest and interests in convertible loan notes and a 46.1 percent stake in Westhouse Holdings PLC, a corporate and institutional stockbroking group.
BNL's shares are publicly traded and listed on the Bermuda Stock Exchange.