The board of directors of Somers Limited, the financial services investment holding company, has authorised the repurchase of up to 100,000 shares through a further share repurchase programme.

In a filing with the Bermuda Stock Exchange, Somers said the existing year’s programme expires on Monday.

The new programme will run until May 23, 2022.

The company said the authorised share repurchase programme represents less than 1 per cent of the company’s overall listed securities and is being implemented for the purpose of improving shareholder liquidity.

Somers said it may commence repurchases pursuant to this share repurchase programme effective on Monday.

During the first quarter of 2021, Somers reported that it bought back 4,141 shares at an average price of $16.47.

The number of shares in issue at March 31 was 21,786,152.