Business
Proposed Secondary Placing
Proposed Secondary Placing.
About this update from B.p. Marsh & Partners Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER TO SELL OR ACQUIRE SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR IN ANY OTHER JURISDICTION.\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (AS FURTHER AMENDED, VARIED OR SUBSTITUTED FROM TIME TO TIME AS A MATTER OF UK LAW). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA THE REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n8 May 2025\n \nPROPOSED SECONDARY PLACING\n \nPSC UK Pty Ltd (the \"Selling Shareholder\"), a wholly owned subsidiary company of the Ardonagh Group, announces its intention to sell approximately 1.6 million ordinary shares (the \"Placing Shares\") in the capital of B.P. Marsh & Partners Plc (\"B.P. Marsh\") at a price of 630 pence per Placing Share.\nThe Placing Shares are being offered to institutional investors by way of an accelerated bookbuild (the \"Placing\"), which will be launched immediately following this announcement and may close at any time on short notice.\nPanmure Liberum Limited (\"Panmure Liberum\") is acting for the Selling Shareholder in connection with the Placing.\nThe Selling Shareholder currently owns 7,385,504 ordinary shares representing approximately 19.9% of B.P. Marsh's issued share capital (excluding treasury shares) and the Placing Shares represent approximately 4.3% of B.P. Marsh's issued share capital (excluding treasury shares). The Placing Shares rank pari passu in all respects with B.P. Marsh's ordinary shares.\nThe final number of Placing Shares to be placed will be agreed by Panmure Liberum and the Selling Shareholder at the close of the bookbuild process, and the results of the Placing will be announced as soon as practicable thereafter. The timings for the close of...