In a filing with the Bermuda Stock Exchange [BSX], Somers Limited announced that its Board of Directors had authorized the repurchase of up to 100,000 shares through a new share repurchase program.
The full filing stated, “Somers Limited, a financial services investment holding company, announces that its Board of Directors has authorised the repurchase of up to 100,000 shares through a further share repurchase programme. This new programme will replace the existing year’s programme. The new programme will run until October 11, 2024.
“The authorised share repurchase programme represents less than 1% of the Company’s overall listed securities and is being implemented for the purpose of improving shareholder liquidity. The Company may commence repurchases pursuant to this share repurchase programme effective October 12, 2023.”
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