Business
First day of dealings
First day of dealings.
About this update from Helios Underwriting Plc
[{"type":"text","content":"\n Hampden Underwriting Plc\n04 September 2007\n\n\n\n\n4 September 2007\nHampden Underwriting plc\n\nFirst Day of Dealings on AIM\n\n\nHampden Underwriting plc ('Hampden Underwriting' or the 'Company'), which has\nbeen incorporated primarily to provide a limited liability direct investment\ninto the Lloyd's insurance market through its subsidiary underwriting vehicle,\nHampden Corporate Member Limited ('HCM'), today announces that it has raised an\ninitial £5.2 million (before expenses) at a price of £1.00 per ordinary share\nthrough an offer for subscription to the public in the UK ('the Offer').\n\nApplication has been made for the Admission to AIM of 5,238,566 ordinary shares\nof the Company. It is expected that Admission in relation to these ordinary\nshares issued to date will become effective and dealings on AIM will commence at\n8.00am today under the ticker symbol 'HUW'. The Offer will remain open until 28\nSeptember 2007.\n\nOf the total gross proceeds of the Offer to date, £5.1 million was subscribed in\ncash and £0.1 million in shares in Heritage Underwriting Agency plc. The net\ncash proceeds from this initial fund raising will be used to acquire\nunderwriting participations in Lloyd's syndicates and invest in other Lloyd's\nrelated opportunities. HCM will bid in the capacity auctions on 4 and 5\nSeptember 2007, 13 and 14 September 2007 and 25 and 26 September 2007.\n\nSmith & Williamson is acting as the Nominated Adviser, Broker and Promoter to\nthe Company.\n\nSir Michael Oliver, Chairman of Hampden Underwriting, said:\n\n'We are delighted with investor demand and are very pleased to be joining AIM.\nWe do not believe that any other company provides the same level of concentrated\nexposure to Lloyd's underwriting and this is a key distinction. As we believe\nthat there is significant further demand amongst UK investors, the Offer has\nbeen extended.'\n\nEnquiries:\n\nHampden Underwriting Jeremy Evans 020 7863 6567\n\nSmith & Williamson Corporate Finance Azhic Basirov 020 7131 4000\nLimited David Jones\n Joanne du Plessis\n\nCardew Group Tim Robertson 020 7930 0777\n Shan Shan Willenbrock\n David Roach\n\n\n\nFor copies of the prospectus please contact:\nTax Efficient Solutions\nSmith & Williamson Investment Management Limited\n020 7131 4502\[email protected]\n\n\nAbout Hampden Underwritin...