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19 Apr 2012 16:17
Completion of the acquisition of Hamburger Internationale Rückversicherung AG
Tawa plc ("Tawa") the quoted insurance services provider and run-off investor, today announces the completion of the acquisition of Hamburger Internationale Rückversicherung AG ("HIR") following receipt of the necessary regulatory approvals. HIR is the holding company for the Chiltington Group of companies ("Chiltington").
As part of the consideration, three million new ordinary shares of 10 pence in the share capital of Tawa (the "Consideration Shares") have been issued to the vendors. The vendors have entered into a lock-in agreement with Tawa whereby they can only sell the Consideration Shares in certain limited circumstances for a period of five years from completion. Application has been made for the Consideration Shares to be admitted to trading on AIM and admission is anticipated to take place on Friday 20 April 2012.
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Contact
Gilles Erulin | 020 7068 8044 | |
Chief Executive, Tawa plc | ||
Dr. Wolfgang Eilers | +49 4101 471100 | |
Chief Executive, Hamburger Internationale Rückversicherung AG | ||
Peel Hunt LLP (nominated adviser and broker) | ||
James Britton Guy Wiehahn | 020 7418 8900 | |
FWD PR | ||
Victoria Sisson Alexandra Thompson | 020 7623 2368 |
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