LOM buys back more than 173,000 shares – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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LOM buys back more than 173,000 shares

LOM Financial Ltd bought back 173,065 of its own shares for cancellation during the month of August at an average price of $2.78.

The total $481,000 worth of share repurchases during the month were pursuant to Regulation 6.38 of the BSX Listing Regulations.

The August buybacks amounted to about 3 per cent of LOM's shares outstanding, which now number 5,237,563.

Malcolm Moseley, executive vice-president and chief financial officer of LOM, said: “The current share repurchase programme confirms our commitment to continually enhance value for our shareholders.”

LOM is authorised to purchase shares from time to time in the open market, or privately negotiated transactions, or block trades.

Share buybacks: Malcolm Moseley, CFO of LOM (File photograph)

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Published September 02, 2020 at 9:15 pm (Updated September 02, 2020 at 9:15 pm)

LOM buys back more than 173,000 shares

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