Last checked at 17 Oct 2011 17:15
17th October 2011
Canopius Group Limited
Statement Regarding Omega Insurance Holdings Limited
Canopius Group Limited ("Canopius") notes the announcement today by Omega Insurance Holdings Limited ("Omega"). Canopius confirms that it duly completed its due diligence on 30th September and submitted an all cash offer to the Board of Omega on 13th October 2011. The Canopius offer is conditional upon certain Omega shareholders reinvesting a substantial portion of their cash proceeds into a new issue of Canopius shares. Discussions with the Omega Board and those shareholders are continuing and Canopius anticipates announcing the outcome shortly.
Enquiries:
Canopius
Tel: +44 (0)20 7337 3700
Michael Watson, Chairman
Keefe, Bruyette & Woods
(Joint financial adviser to Canopius)
Tel: +44 (0)20 7663 5421
Stephen Howard
Aon Benfield Securities
(Joint financial adviser to Canopius)
Tel: +44 (0)20 7578 7476
Andrew Beecroft
Citigate Dewe Rogerson
Tel: +44 (0) 7973 611 888
Anthony Carlisle