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Hamilton, Bermuda:  20^th, July 2022 – In a filing with the Bermuda Stock Exchange (“BSX”), Somers Limited (“Somers”, the “Company” or the “Group”) (Ticker: SOM.BH) Announces Shareholder Approval of Merger with SNB Investments.  The full filing stated:

 

July 20, 2022

 

Somers Limited

 

Somers Limited announces shareholder approval of merger with SNB Investments

 

“(Hamilton, Bermuda) Somers Limited (“Somers” or the “Company”), a financial services investment holding company, is pleased to announce that further to the Company’s announcement on 8 July 2022, Somers’ shareholders voted overwhelmingly in favour at the Company’s Special General Meeting (“SGM”) held earlier today, to approve the merger with SNB Investments Limited (“SNB”).  

 

The votes at the SGM either by proxy or in person were:

 

·         21,969,163 shares For (representing 96.7% of Somers’ issued share capital)

·         3,719 shares Against

·         5,532 shares Abstained

 

Accordingly, the merger with SNB is scheduled to complete, subject to Government and other approvals, on 26 July 2022 when the 6% loan notes issued to Somers’ shareholders not associated with SNB will be admitted to trading on the Bermuda Stock Exchange. Trading in Somers’ shares will be suspended pending closing of the merger”.

 

 

 

Media Contacts:

 

Alasdair Younie                                                                               

Director                                                                                            

Somers Limited                                           

Exchange Note:  +1 441-542-9242                                                          

Email:  ay@icm.bm                                                 

 

The Exchange will suspend trading in Somers’ shares at close of trading today, Wednesday, 20th, July 2022 at the Company’s request.

 

 

-ENDS-

 

About Somers Limited:

 

Somers is a listed financial services investment holding company whose major assets include: a 58.4% holding in Resimac Group Limited, a leading non-bank Australian financial institution with over A$16 billion assets under management; a 61.8% holding in Waverton Investment Management Group Limited, a UK wealth manager with £12.7 billion funds under management and administration; and a 73.2% shareholding in UK specialist bank, PCF Group plc. Somers has shareholders’ funds as at March 31, 2022 of approximately US$555 million. Somers’ shares are publicly traded and listed on the Bermuda Stock Exchange (Ticker: SOM.BH). More details on the Company can be found at www.somers.limited)

 

 

 

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For more information on the Bermuda Stock Exchange (BSX), contact James Best at 1-441-292-7212 or jbest@bsx.com . Information is also available at www.bsx.com and on Bloomberg at BSX.

 

Established in 1971 the Bermuda Stock Exchange (BSX) is the leading fully electronic offshore securities market. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and Insurance Linked Securities.

 

The BSX is a full member of the World Federation of Exchanges (WFE) and is in an O.E.C.D. member nation and an affiliate member of IOSCO. The BSX is recognised by the US SEC as a Designated Offshore Securities Market. In addition, the BSX is recognized by the U.S. Securities & Exchange Commission (SEC) as a Designated Offshore Securities Market under Regulation S; The Financial Services Authority in the UK as a Designated Investment Exchange; HM Revenue & Customs in the UK as a Recognized Stock Exchange; The Bermuda Monetary Authority as a Recognised Investment Exchange; and as an Approved Stock Exchange under Australia’s Foreign Investment Funds (FIF) taxation rules; and Designated Exchange status under Canada’s Income Tax Act and is a member of America’s Central Securities Depository Association.