Business
Participation in Rights Issue
Participation in Rights Issue.
About this update from B.p. Marsh & Partners Plc
[{"type":"text","content":"\n B.P. Marsh & Partners PLC\n18 May 2007\n\n\n\n\n\nDate: 18th May 2007\n\nOn behalf of: B.P. Marsh & Partners Plc ('B.P. Marsh' or 'The Company')\n\nEmbargoed until: 0700hrs\n\n\nB.P. Marsh & Partners Plc\n\n£5.5m Hyperion Insurance Group Limited Rights Issue\n\n\nB.P. Marsh & Partners Plc (AIM: BPM), a niche venture capital provider to\nfinancial services businesses, today announces that it has participated in a\n£5.5m rights issue of Hyperion Insurance Group Limited ('Hyperion'), one of the\nCompany's investee companies. Hyperion provides expertise in selected specialist\ninsurance and reinsurance fields.\n\n\nThe rights issue, which was approved at an Extraordinary General Meeting on 19th\nApril, will be Hyperion's second fundraising since February 2006 when the\ninsurance group raised £5.1m and brought in a new shareholder, Murofo\nInvestments SLU, a Spanish Investment Company.\n\n\nB.P.Marsh took up its pro-rata proportion of the rights issue at a cost of\n£1,546,144 thereby retaining its 27.89% equity interest in Hyperion.\n\n\nThis second round of funding comes after another successful year in relation to\ntrading performance and will provide funding for start-ups as well as liquidity\nin the business. The rights issue will also provide an opportunity for the Group\nto restructure internally thereby creating a solid platform for its next stage\nof growth.\n\n\nBrian Marsh OBE, Chairman of B.P. Marsh & Partners Plc, commented:\n\n\n'We are delighted to support Hyperion by participating in this fund raising.\nHyperion has an excellent track record and an exciting future ahead of it. These\nfunds will enable the company to achieve its next phase of growth not only\nthrough acquisition but also by allowing the company to restructure and\nconsolidate internally.'\n\n\nHyperion was last month awarded a Queen's Award for Enterprise in International\nTrade.\n\n\n- ends -\n\n\nFor further information:\n\n\nB.P. Marsh & Partners Plc www.bpmarsh.co.uk\n\nBrian Marsh OBE +44 (0)20 7730 2626\n\n\nNominated Advisor\n\nNabarro Wells & Co. Limited\n\nDavid Nabarro/Marc Cramsie +44 (0) 20 7710 7400\n\n\n\nRedleaf Communications (PR to BP Marsh)\n\nEmma Kane/Tom Newman +44 (0)20 7822 0200\n\n\n-ends-\n\n\nNotes to Editors:\n\n\nAbout Hyperion:\n\n\nEstablished in 1994 and headquartered in the City of Londo...