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LONDON - PSC UK Pty Ltd, a subsidiary of the Ardonagh Group, has initiated the sale of approximately 1.6 million ordinary shares in B.P. Marsh & Partners Plc, a process managed by Panmure Liberum Limited. The shares are being sold to institutional investors through an accelerated bookbuild, with the potential for the sale to conclude swiftly on short notice.
The shares on offer, referred to as the Placing Shares, are priced at 630 pence each and represent about 4.3% of B.P. Marsh’s issued share capital, excluding treasury shares. PSC UK Pty Ltd currently holds roughly 19.9% of B.P. Marsh’s issued share capital, excluding treasury shares, which totals 7,385,504 ordinary shares.
Today’s announcement marks the commencement of the bookbuild, and the final number of shares to be sold will be determined at the close of this process. The results will be disclosed promptly following the conclusion. The exact timing for the bookbuild’s closure is at the discretion of Panmure Liberum.
It is important to note that B.P. Marsh is not involved in the Placing and will not receive any proceeds from it. Furthermore, the Selling Shareholder has agreed not to sell any additional shares of B.P. Marsh for 60 days post-completion of the Placing, with certain exceptions or unless a waiver is granted by Panmure Liberum.
The transaction details are based on a press release statement, and the information provided is intended for public dissemination, ensuring transparency and regulatory compliance.
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