Brit Insurance Holdings has announced that Collins Stewart Ltd has conditionally agreed to place 5,737,705 new Brit ordinary shares with several institutions at 61p per share.
Brit Insurance Holdings has announced that Collins Stewart has conditionally agreed to place 5,737,705 new Brit ordinary shares with several institutions at 61p per share.
The proceeds of the placing will be used as payment for the release of Brit's deferred consideration liabilities to a Benfield Group subsidiary.
Benfield Group has notified Brit that they have sold 32,000,000 ordinary shares in Brit today, representing 7.59% of the issued share capital of Brit.
