Hamilton, Bermuda - April 17, 2008 -- LOM (Holdings) Limited (BSX: LOM) today reported that net earnings for the year ended December 31, 2007 rose nearly 50% as compared to year end 2006, to $2.5 million or $0.38 per diluted share. Diluted earnings per share were $0.38 and $0.26 for the year 2007 and 2006, respectively. Total revenue was up 29% to $16.5 million while expansion caused operating costs to rise by 26%, to $14 million.
"LOM had a very good year and these results reinforce our confidence in LOM’s ability to perform well in a dynamic global economy. Our performance is a tribute to the way we have repositioned our company over the past several years, as well as the hard work of our employees," said Scott Lines, LOM president and chief executive officer.
The group’s overall balance sheet remains extremely strong with cash levels at $8.5 million or 33% of total assets. In addition, the balance sheet remains debt free.
The firm also confirmed its semiannual $0.07 dividend which represents a 40% increase from the same period in 2007.
More information can be found in the shareholders letter, appended below, and the unaudited financial results available on the web at www.lom.com/financial-statements.
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2007 Letter to Shareholders
April 16, 2008
Dear shareholder:
2007 proved a very difficult environment for global equity markets. The year witnessed rising inflation, strong commodity prices, the implosion of the US housing market and the knock on effects to debt instruments associated with that sector. Returns were modest in nominal terms and flat or negative in inflation adjusted terms. The US market rose 3.6%, UK 3.8%, Germany 3.5%, France 1.6% and Japan fell 10.5%. The strongest performing major market was Canada which rose 7.3% on the back of strong oil and commodity prices. Since the end of 2007 most global equity markets have suffered double digit percentage declines.In last year’s shareholder letter we outlined our view that the potential for the unwinding of the Yen carry trade would become a significant factor in the performance of global markets in late 2007 and through 2008. Indeed, such is happening, and as a result asset valuations across the economy and around the world are under review. A year ago we feared that the unusually low real borrowing costs had allowed a massive increase in asset prices. Asset prices were afloat on an ocean of cheap credit and that tide has turned. Despite swinging cuts to short term interest rates by the US Federal Reserve aimed at avoiding a collapse in the US housing market and financial system, the price of “risk” continues to rise.The US$ has depreciated substantially over the year. During the first quarter of this year that decline has accelerated to an extent that threatens the global finance system. Despite the Dollar’s waning influence, over 80% of all global financial transactions are priced in US$. Any further acceleration in the Dollar’s decline would threaten to undermine global trade. Additionally, the weakness of the Dollar has caused funds to flow into hard and soft commodities resulting in dramatic increases in basis foodstuff prices. This, in turn, is pushing headline inflation numbers up around the globe and impeding the central bank’s ability to reduce interest rates to ward off economic weakness.Thus, we have reached a point where it has become in every major country’s interest to stabilize the US$. We believe that the rest of this year will see increasing co-ordinated government and central bank currency intervention aimed at a US$ rally.Furthermore, the toxic mortgage and asset-backed paper that is causing such problems in the US banking and broking sectors is a global virus infecting all major financial institutions. Global credit contraction will impact growth in all major economies and we expect to witness interest rate cuts in the UK and Europe as a result.The massive central bank injection of liquidity into the world’s global financial system will prove positive for equities for the balance of the year. However, over the longer term this liquidity boost will cause the emergence of significant inflationary issues that will need to be addressed in 2009 and beyond.
LOM’s profits in 2007 showed substantial increase over 2006.
2007 full year profits for LOM Holdings were US$2.48 million or 38 cents per share
Assets under administration grew 15% to $1.134 billion
Return on equity was 11.3%
Revenues were up 29% to US$16.5 million
Operating costs rose 26% to US$14 million
The group’s balance sheet remains extremely strong with our cash levels at $8.5 million or 33% of total assets.During the course of 2008 LOM will be implementing a new back office and client accounting system that will enable us to bring additional services to our customers. Thus, for the balance of 2008 we will find it very difficult to reduce costs to any meaningful extent. Additionally, the group will continue to face high professional fees due to legal costs related to our single ongoing litigation matter.
LOM’s focus will continue to be to win new customers and assets and keep our performance standards at “best in market” levels.
At the end of 2007 LOM’s book value per share on a fully diluted basis was US$3.41. During the year our share price on the Bermuda Stock Exchange traded between a low of $3.25 and a high of $4.00.Our regular half yearly dividend of 7 cents per share will be paid on June 1st to shareholders of record on May 16th. Our annualized payout this year is 14 cents, a 16% increase on our previous annual dividend of 12 cents per share.On behalf of the Board of Directors I would like to extend our thanks to our customers, employees and shareholders for their support and loyalty over the past year.
Scott Lines
CEO
LOM (Holdings) Limited
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About LOM: The LOM Group is an offshore international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bermuda, Bahamas and Grand Cayman and a marketing office in London, England. In business for over 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world. The parent company, LOM (Holdings) Limited, is publicly listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder's equity of over $25 million.
Friday, May 2, 2008
Monday, February 25, 2008
LOM Securities (Bahamas) Limited has opened a new office in downtown Nassau, Bahamas
LOM Securities (Bahamas) Limited has opened an office in downtown Nassau. LOM has maintained offices in Bahamas since 2001 and the new office, situated in the Centre of Commerce building, serves as an ideal location to meet the demands of the international financial community.
Located a short distance southeast of Florida, The Bahamas was one of the first offshore jurisdictions to offer trust services. Over the years, the bank, trust and wealth management sector continues to prosper and is now a leader among offshore jurisdictions. Responsible government and pioneering policies have succeeded in making The Bahamas one of the most stable and innovative financial centers in the world. In addition, Nassau’s strategic location offers convenient flights to Europe, North America and the Caribbean.
“LOM’s move to Nassau reiterates our commitment to the Bahamas” General Manager Craig Lines added, “Over the last seven years we have developed a strong working relationship with a number of financial intermediaries in Nassau and it made sense to relocate. Our unique investment products and responsive service to financial professionals are a key part in providing wealth management and asset protection solutions”
About LOM:
LOM Securities (Bahamas) Limited is a wholly owned subsidiary of LOM (Holdings) Limited. Address: Centre of Commerce, 1 Bay Street, Nassau Bahamas
Phone: (242) 323-0032
Email: info@lom.com
LOM (Holdings) Limited is a publicly-held, offshore financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bahamas, Bermuda, and the Cayman Islands. In business for over 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its high net-worth individual and institutional customers in over 75 countries around the world. LOM (Holdings) Limited is listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder's equity of over $21 million. Find out more about LOM offshore financial services.
Located a short distance southeast of Florida, The Bahamas was one of the first offshore jurisdictions to offer trust services. Over the years, the bank, trust and wealth management sector continues to prosper and is now a leader among offshore jurisdictions. Responsible government and pioneering policies have succeeded in making The Bahamas one of the most stable and innovative financial centers in the world. In addition, Nassau’s strategic location offers convenient flights to Europe, North America and the Caribbean.
“LOM’s move to Nassau reiterates our commitment to the Bahamas” General Manager Craig Lines added, “Over the last seven years we have developed a strong working relationship with a number of financial intermediaries in Nassau and it made sense to relocate. Our unique investment products and responsive service to financial professionals are a key part in providing wealth management and asset protection solutions”
About LOM:
LOM Securities (Bahamas) Limited is a wholly owned subsidiary of LOM (Holdings) Limited. Address: Centre of Commerce, 1 Bay Street, Nassau Bahamas
Phone: (242) 323-0032
Email: info@lom.com
LOM (Holdings) Limited is a publicly-held, offshore financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bahamas, Bermuda, and the Cayman Islands. In business for over 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its high net-worth individual and institutional customers in over 75 countries around the world. LOM (Holdings) Limited is listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder's equity of over $21 million. Find out more about LOM offshore financial services.
Friday, February 15, 2008
LOM (Holdings) Limited (LOM) today announced that on January 28, 2008 it purchased 5,000 of its own shares for cancellation
HAMILTON, BERMUDA, Feb. 12 – LOM (Holdings) Limited (LOM) today announced that on January 28, 2008 it purchased 5,000 of its own shares for cancellation at an average price of $4.00 per share.
LOM is authorized to purchase shares from time to time in the open market, or privately negotiated transactions, or block trades. The number of shares ultimately repurchased, and the timing of the purchases, will depend upon market conditions, share price, and other factors. LOM currently has 6,355,500 shares of Common Stock outstanding.
"These stock repurchases demonstrate our confidence in the company and its future and represents our commitment to enhance value for shareholders," said Malcolm Moseley, Executive Vice President and Chief Financial Officer of LOM.
The stock repurchase will be funded using LOM’s available cash. As of December 31, 2007 LOM had cash and cash equivalents in excess of $9 million and zero debt.
About LOM (Holdings) LimitedLOM is a publicly-held, international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bermuda, Bahamas and Grand Cayman. In business for nearly 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world. LOM is publicly listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder’s equity of over $21 million.
Find out more about LOM's offshore financial services offering here.
LOM is authorized to purchase shares from time to time in the open market, or privately negotiated transactions, or block trades. The number of shares ultimately repurchased, and the timing of the purchases, will depend upon market conditions, share price, and other factors. LOM currently has 6,355,500 shares of Common Stock outstanding.
"These stock repurchases demonstrate our confidence in the company and its future and represents our commitment to enhance value for shareholders," said Malcolm Moseley, Executive Vice President and Chief Financial Officer of LOM.
The stock repurchase will be funded using LOM’s available cash. As of December 31, 2007 LOM had cash and cash equivalents in excess of $9 million and zero debt.
About LOM (Holdings) LimitedLOM is a publicly-held, international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bermuda, Bahamas and Grand Cayman. In business for nearly 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world. LOM is publicly listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder’s equity of over $21 million.
Find out more about LOM's offshore financial services offering here.
Wednesday, January 23, 2008
LOM Holdings Confidently Announces Share Buy Back
HAMILTON, BERMUDA, Jan. 22 – LOM (Holdings) Limited today announced that on January 21, 2008 it purchased 40,000 of its own shares for cancellation at an average price of $3.85 per share.
The Company is authorized to purchase shares from time to time in the open market, or privately negotiated transactions, or block trades. The number of shares ultimately repurchased, and the timing of the purchases, will depend upon market conditions, share price, and other factors. The Company currently has 6,382,000 shares of Common Stock outstanding.
"The stock repurchase authorization demonstrates the confidence of our Board and Management and the strength of our balance sheet and cash flow. It is consistent with our strategy of providing value to our shareholders while maintaining flexibility to continue to invest in future growth opportunities," said Scott Lines, President and Chief Executive Officer.
The stock repurchase will be funded using the Company's available cash. As of December 31st, 2007, the Company had cash and cash equivalents in excess of $9 million and zero debt.
About LOM (Holdings) Limited
LOM is a publicly-held, international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bermuda, Bahamas and Grand Cayman. In business for nearly 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world. The parent company, LOM (Holdings) Limited, is publicly listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder's equity of over $21 million.Find out more about LOM Offshore Financial Services
The Company is authorized to purchase shares from time to time in the open market, or privately negotiated transactions, or block trades. The number of shares ultimately repurchased, and the timing of the purchases, will depend upon market conditions, share price, and other factors. The Company currently has 6,382,000 shares of Common Stock outstanding.
"The stock repurchase authorization demonstrates the confidence of our Board and Management and the strength of our balance sheet and cash flow. It is consistent with our strategy of providing value to our shareholders while maintaining flexibility to continue to invest in future growth opportunities," said Scott Lines, President and Chief Executive Officer.
The stock repurchase will be funded using the Company's available cash. As of December 31st, 2007, the Company had cash and cash equivalents in excess of $9 million and zero debt.
About LOM (Holdings) Limited
LOM is a publicly-held, international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bermuda, Bahamas and Grand Cayman. In business for nearly 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world. The parent company, LOM (Holdings) Limited, is publicly listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder's equity of over $21 million.Find out more about LOM Offshore Financial Services
Wednesday, January 2, 2008
Donald Lines and the Bermuda Centennial Trust
From Comments on LimeyinBermuda.com - http://www.limeyinbermuda.com/latest_news/2006/10/bank_of_bermuda.html
"Observer is absolutely right. The Bank of Bermuda Centennial Trust was created on the 100th anniversary of the Bank. Around that time Midland Bank the largest shareholder of the bank decided to sell its shareholding and the Bank bought back the shares which were placed in a trust. On 100th anniversary, the Bank made a gift to the people of Bermuda, the Bank of Bermuda Centennial Trust whose purpose and income was to be used for the people of Bermuda. Donald Lines was the mastermind behind this idea and deserves a lot of credit. It was a huge gift. Of course it also provided a relatively compliant shareholder for the management of the bank.
When HSBC took over the Bank, the Centennial Trust became more independent from the bank since it no longer owned the bank's shares. I think that independence may have been one of the requirements of the sale so that HSBC could not assume control and ownership of these funds.
HSBC's contribution to the trust is probably pretty minimal. They may forego fees, salaries and expenses in managing the trust but I don't think they have contributed any funds to it.
So if you are going to thank anyone for this charitable trust it is the former shareholders of the bank and Donald Lines."
Posted by slick on 19.10.06 at 13:47
"Observer is absolutely right. The Bank of Bermuda Centennial Trust was created on the 100th anniversary of the Bank. Around that time Midland Bank the largest shareholder of the bank decided to sell its shareholding and the Bank bought back the shares which were placed in a trust. On 100th anniversary, the Bank made a gift to the people of Bermuda, the Bank of Bermuda Centennial Trust whose purpose and income was to be used for the people of Bermuda. Donald Lines was the mastermind behind this idea and deserves a lot of credit. It was a huge gift. Of course it also provided a relatively compliant shareholder for the management of the bank.
When HSBC took over the Bank, the Centennial Trust became more independent from the bank since it no longer owned the bank's shares. I think that independence may have been one of the requirements of the sale so that HSBC could not assume control and ownership of these funds.
HSBC's contribution to the trust is probably pretty minimal. They may forego fees, salaries and expenses in managing the trust but I don't think they have contributed any funds to it.
So if you are going to thank anyone for this charitable trust it is the former shareholders of the bank and Donald Lines."
Posted by slick on 19.10.06 at 13:47
Thursday, December 20, 2007
LOM Holdings Announces Intent to Contest SEC Charges Arising From 2003 Transactions
This is the press release they issued in response to the SEC allegations:
Hamilton, Bermuda, December 20, 2007 - LOM (Holdings) Limited (Bermuda Stock Exchange: LOM BH) announced today that it intends to vigorously contest charges filed by the United States Securities and Exchange Commission (“SEC”) against LOM, several of its subsidiaries, and its President, Scott Lines (collectively, “LOM”).
“The complaint filed by the SEC presents a disturbingly distorted portrayal of a bona fide financing transaction in which LOM participated nearly five years ago,” said Malcolm Moseley, CFO of LOM. ““We are deeply frustrated by the SEC’s action today, and look forward to having an opportunity, after nearly five years of investigation, to challenge the SEC’s allegations and demonstrate that LOM and its agents operated at all times in the best interests of our clients. LOM welcomes the opportunity at long last to be able to present its side of the story in an adversary proceeding before a neutral judge.”
The SEC has alleged that LOM, a Bermuda-based broker-dealer, violated U.S. securities laws in connection with trading, in January and February 2003, of shares of Sedona Software Solutions, Inc. and, in 2002 and 2003, of shares of SHEP Technologies, Inc. The SEC’s complaint alleges that LOM attempted to manipulate the prices of Sedona and SHEP Technologies stock, and thereby violated various provisions of the securities laws, including Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934. Among other things, the complaint seeks an injunction against future violations of the securities laws, as well as a penny stock bar.
“The SEC’s allegations relate to LOM’s bona fide efforts to arrange financing for the acquisition and operation of several mining properties in Canada and Central America in February 2003,” said Moseley. “Today’s charges reflect the SEC’s fundamental misunderstanding of the transactions at issue. After the SEC suspended trading of Sedona stock, these same mining assets were acquired by various Canadian public companies, which successfully operated them. The SEC’s allegations relating to trading in SHEP Technologies likewise concern LOM’s legitimate business dealings.” LOM’s primary regulator – the Bermuda Monetary Authority (“BMA”) – has thoroughly investigated the conduct described in the SEC’s complaint, and concluded its investigation in 2005 on an entirely different basis, pursuant to which LOM agreed to make managerial changes, improve its internal controls, and committed to further enhance its compliance regime and management structure.
“LOM does not expect that the filing of these charges will have any bearing on our operations, our clients, or the viability of the firm. We are hopeful that this development marks the beginning of the conclusion of a matter that should have been concluded long ago,” said Moseley. LOM will, in its vigorous defense of this matter, prove that not only are the SEC’s charges legally and factually unsound, but that they also are part of a longstanding pattern of harassment against LOM and its officers. LOM will show that the SEC has acted inappropriately by failing to correct a number of materially false statements made in court filings, despite being provided with evidence to the contrary by LOM.
“It is unthinkable that the SEC would ever treat a U.S.-based broker-dealer the way that it has treated LOM. The SEC has targeted LOM despite our efforts to uphold the highest standards of responsible corporate citizenship and compliance,” said Moseley. “LOM welcomes the opportunity to clear its name and to defend itself against the SEC’s unmeritorious claims.”
About LOM
LOM is a publicly-held, international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bermuda, Bahamas and Grand Cayman. In business for 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world. The parent company, LOM (Holdings) Limited, is publicly listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder's equity of over $21 million.
Hamilton, Bermuda, December 20, 2007 - LOM (Holdings) Limited (Bermuda Stock Exchange: LOM BH) announced today that it intends to vigorously contest charges filed by the United States Securities and Exchange Commission (“SEC”) against LOM, several of its subsidiaries, and its President, Scott Lines (collectively, “LOM”).
“The complaint filed by the SEC presents a disturbingly distorted portrayal of a bona fide financing transaction in which LOM participated nearly five years ago,” said Malcolm Moseley, CFO of LOM. ““We are deeply frustrated by the SEC’s action today, and look forward to having an opportunity, after nearly five years of investigation, to challenge the SEC’s allegations and demonstrate that LOM and its agents operated at all times in the best interests of our clients. LOM welcomes the opportunity at long last to be able to present its side of the story in an adversary proceeding before a neutral judge.”
The SEC has alleged that LOM, a Bermuda-based broker-dealer, violated U.S. securities laws in connection with trading, in January and February 2003, of shares of Sedona Software Solutions, Inc. and, in 2002 and 2003, of shares of SHEP Technologies, Inc. The SEC’s complaint alleges that LOM attempted to manipulate the prices of Sedona and SHEP Technologies stock, and thereby violated various provisions of the securities laws, including Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934. Among other things, the complaint seeks an injunction against future violations of the securities laws, as well as a penny stock bar.
“The SEC’s allegations relate to LOM’s bona fide efforts to arrange financing for the acquisition and operation of several mining properties in Canada and Central America in February 2003,” said Moseley. “Today’s charges reflect the SEC’s fundamental misunderstanding of the transactions at issue. After the SEC suspended trading of Sedona stock, these same mining assets were acquired by various Canadian public companies, which successfully operated them. The SEC’s allegations relating to trading in SHEP Technologies likewise concern LOM’s legitimate business dealings.” LOM’s primary regulator – the Bermuda Monetary Authority (“BMA”) – has thoroughly investigated the conduct described in the SEC’s complaint, and concluded its investigation in 2005 on an entirely different basis, pursuant to which LOM agreed to make managerial changes, improve its internal controls, and committed to further enhance its compliance regime and management structure.
“LOM does not expect that the filing of these charges will have any bearing on our operations, our clients, or the viability of the firm. We are hopeful that this development marks the beginning of the conclusion of a matter that should have been concluded long ago,” said Moseley. LOM will, in its vigorous defense of this matter, prove that not only are the SEC’s charges legally and factually unsound, but that they also are part of a longstanding pattern of harassment against LOM and its officers. LOM will show that the SEC has acted inappropriately by failing to correct a number of materially false statements made in court filings, despite being provided with evidence to the contrary by LOM.
“It is unthinkable that the SEC would ever treat a U.S.-based broker-dealer the way that it has treated LOM. The SEC has targeted LOM despite our efforts to uphold the highest standards of responsible corporate citizenship and compliance,” said Moseley. “LOM welcomes the opportunity to clear its name and to defend itself against the SEC’s unmeritorious claims.”
About LOM
LOM is a publicly-held, international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bermuda, Bahamas and Grand Cayman. In business for 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world. The parent company, LOM (Holdings) Limited, is publicly listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder's equity of over $21 million.
Tuesday, December 11, 2007
LOM (Holdings) Limited Pays Increased Semi-Annual Dividend
Hamilton, Bermuda, December 10, 2007 – LOM (Holdings) Limited (BSX: LOM BH) announced that it paid its semi-annual dividend on December 1, 2007 to shareholders of record as of November 15, 2007. The Board of Directors approved a 40% increase in the semi-annual dividend from $0.05 per share to $0.07 per share on September 27, 2007.
“I’m delighted to say that 2007 was another good year for LOM, marked by continuing efficiency and financial achievements,” said Scott Lines, President, LOM Holdings . “With our very solid balance sheet, and our projected 2007 earnings, LOM is in a good position to continue to reward our shareholders even as we invest for growth.”
About LOM (Holdings) Limited
LOM is a publicly-held, international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bermuda, Bahamas and Grand Cayman. In business for nearly 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world. The parent company, LOM (Holdings) Limited, is publicly listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder's equity of over $21 million. Find out more about LOM at http://www.lom.com
“I’m delighted to say that 2007 was another good year for LOM, marked by continuing efficiency and financial achievements,” said Scott Lines, President, LOM Holdings . “With our very solid balance sheet, and our projected 2007 earnings, LOM is in a good position to continue to reward our shareholders even as we invest for growth.”
About LOM (Holdings) Limited
LOM is a publicly-held, international financial services company, providing a complete range of investment services and products through its regulated subsidiaries in Bermuda, Bahamas and Grand Cayman. In business for nearly 15 years, LOM today has over $1 billion in client assets under administration and provides brokerage, asset management, and corporate finance services to its primarily high net-worth individual and institutional customers in over 75 countries around the world. The parent company, LOM (Holdings) Limited, is publicly listed on the Bermuda Stock Exchange (symbol LOM BH). The consolidated group is debt-free and has shareholder's equity of over $21 million. Find out more about LOM at http://www.lom.com
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