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(BPM.L) B.P. Marsh & Partners PLC Buy/Sell
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| Date/Time | Headline | Source |
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| 21-01-10 | RNS |
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RNS Number : 8917F B.P. Marsh & Partners PLC 21 January 2010 21 January 2010 B.P. Marsh & Partners Plc Disposal of Entire Stake in JMD Specialist Insurance Services Group Limited B. P. Marsh & Partners plc ("B.P. Marsh" or the "Company") (AIM: BPM), the niche venture capital provider to early stage financial services businesses, is pleased to announce that it has agreed to dispose of its entire stake in JMD Specialist Insurance Services Group Limited ("JMD") to Randall & Quilter Investment Holdings plc ("R&Q"), the AIM listed run-off management service provider and acquirer of solvent insurance companies in run-off in exchange for a total consideration of 650,000 ordinary shares of 2p each in R&Q ("Consideration Shares"), which at the close of business on 20 January had a value 23% higher than the £569,000 valuation put on JMD as at 31 July 2009 in the Company's accounts. In addition, B.P. Marsh's outstanding loan of £100,000 will be repaid in full in cash on completion. The Consideration Shares are not subject to any lock-in provisions but the Company's intention is to retain the Consideration Shares. Additionally under the terms of the transaction Jonathan Newman, Group Director of Finance of B.P. Marsh, will resign as a director of JMD Specialist Insurance Services Group Ltd. The Board of B.P. Marsh believes the receipt of shares in R&Q is in the best interest of its shareholders and is in line with the Company's strategy of focusing on suitable investments as well as being mindful of value enhancements for the existing portfolio. The disposal of the Company's stake in JMD demonstrates that B. P. Marsh is able to exit investments after short periods whilst generating returns for its shareholders. Commenting on the disposal, Jonathan Newman, the Company's Nominee Director on the Board of JMD, said: "We believe that the acquisition of JMD by R&Q will strengthen their service offering and offer further growth opportunities and it is for this reason that we have chosen to hold shares in R&Q. We wish everyone at JMD all the best for the future." Brian Marsh OBE, Chairman of B. P. Marsh said: "This transaction marks a further achievement in our strategy to position the Group to deliver long term growth potential for our shareholders and to divest operations that we believe do not meet the criteria of our investment strategy. Whilst we acknowledge that the transaction represents a temporary departure from our traditional strategy of investing in minority stakes of between 20-49% in private financial services companies, we believe the investment in R&Q is in the best interest of shareholders and will add depth to our portfolio."
For further information:
Nominated Adviser Arbuthnot Securities
Notes to Editors: About B.P. Marsh & Partners Plc B.P. Marsh's current portfolio contains nine companies. More detailed descriptions of the portfolio can be found at www.bpmarsh.co.uk. Over the past 19 years, the Company has assembled a management team with considerable experience both in the financial services sector and in managing private equity investments. Many of the directors have worked with each other in previous roles, and all have worked with each other for at least six years. Prior to Brian Marsh's involvement in the Company, he spent many years in insurance broking and underwriting in Lloyd's as well as the London and overseas market. He has over 30 years' experience in building, buying and selling financial services businesses, particularly in the insurance sector. Jonathan Newman is the Group Director of Finance and has over 10 years' experience in the financial services industry. Jonathan advises investee companies through several non-executive board appointments and evaluates new investment opportunities. Robert King is a Director and Group Company Secretary. He joined B.P. Marsh in May 2003 having started his career at PricewaterhouseCoopers. Since joining B.P. Marsh he has taken on responsibility for the Group's legal, compliance and secretarial functions and played a key role in the flotation of the Company. This information is provided by RNS The company news service from the London Stock Exchange END
DISPGUWGGUPUPWU More |
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| 21-01-10 | RNS |
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RNS Number : 8917F B.P. Marsh & Partners PLC 21 January 2010 21 January 2010 B.P. Marsh & Partners Plc Disposal of Entire Stake in JMD Specialist Insurance Services Group Limited B. P. Marsh & Partners plc ("B.P. Marsh" or the "Company") (AIM: BPM), the niche venture capital provider to early stage financial services businesses, is pleased to announce that it has agreed to dispose of its entire stake in JMD Specialist Insurance Services Group Limited ("JMD") to Randall & Quilter Investment Holdings plc ("R&Q"), the AIM listed run-off management service provider and acquirer of solvent insurance companies in run-off in exchange for a total consideration of 650,000 ordinary shares of 2p each in R&Q ("Consideration Shares"), which at the close of business on 20 January had a value 23% higher than the £569,000 valuation put on JMD as at 31 July 2009 in the Company's accounts. In addition, B.P. Marsh's outstanding loan of £100,000 will be repaid in full in cash on completion. The Consideration Shares are not subject to any lock-in provisions but the Company's intention is to retain the Consideration Shares. Additionally under the terms of the transaction Jonathan Newman, Group Director of Finance of B.P. Marsh, will resign as a director of JMD Specialist Insurance Services Group Ltd. The Board of B.P. Marsh believes the receipt of shares in R&Q is in the best interest of its shareholders and is in line with the Company's strategy of focusing on suitable investments as well as being mindful of value enhancements for the existing portfolio. The disposal of the Company's stake in JMD demonstrates that B. P. Marsh is able to exit investments after short periods whilst generating returns for its shareholders. Commenting on the disposal, Jonathan Newman, the Company's Nominee Director on the Board of JMD, said: "We believe that the acquisition of JMD by R&Q will strengthen their service offering and offer further growth opportunities and it is for this reason that we have chosen to hold shares in R&Q. We wish everyone at JMD all the best for the future." Brian Marsh OBE, Chairman of B. P. Marsh said: "This transaction marks a further achievement in our strategy to position the Group to deliver long term growth potential for our shareholders and to divest operations that we believe do not meet the criteria of our investment strategy. Whilst we acknowledge that the transaction represents a temporary departure from our traditional strategy of investing in minority stakes of between 20-49% in private financial services companies, we believe the investment in R&Q is in the best interest of shareholders and will add depth to our portfolio."
For further information:
Nominated Adviser Arbuthnot Securities
Notes to Editors: About B.P. Marsh & Partners Plc B.P. Marsh's current portfolio contains nine companies. More detailed descriptions of the portfolio can be found at www.bpmarsh.co.uk. Over the past 19 years, the Company has assembled a management team with considerable experience both in the financial services sector and in managing private equity investments. Many of the directors have worked with each other in previous roles, and all have worked with each other for at least six years. Prior to Brian Marsh's involvement in the Company, he spent many years in insurance broking and underwriting in Lloyd's as well as the London and overseas market. He has over 30 years' experience in building, buying and selling financial services businesses, particularly in the insurance sector. Jonathan Newman is the Group Director of Finance and has over 10 years' experience in the financial services industry. Jonathan advises investee companies through several non-executive board appointments and evaluates new investment opportunities. Robert King is a Director and Group Company Secretary. He joined B.P. Marsh in May 2003 having started his career at PricewaterhouseCoopers. Since joining B.P. Marsh he has taken on responsibility for the Group's legal, compliance and secretarial functions and played a key role in the flotation of the Company. This information is provided by RNS The company news service from the London Stock Exchange END
DISPGUWGGUPUPWU More |
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| 21-01-10 | RNS |
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RNS Number : 8878F Randall & Quilter Inv Hldgs PLC 21 January 2010 Acquisition of JMD Specialist Insurance Services Group Limited ('JMD') Randall & Quilter Investment Holdings plc ('R&Q' or the 'Group') is pleased to announce that it has acquired the entire issued share capital of JMD Specialist Insurance Services Group Limited ("JMD") from the existing JMD management team and B.P. Marsh & Partners Plc ("B.P. Marsh"). The total consideration paid is £2,011,250, comprising of £1,312,500 in cash and the allocation of 650,000 existing R&Q ordinary shares currently held on behalf of the Group's Employee Benefit Trust. The acquisition is anticipated to be earnings enhancing in the current financial year. JMD is the provider of innovative insurance services to the London Market, most especially Lloyd's. The majority of its services are focused on enhancing cash flow and profitability and include accelerated premium collection, broker performance review, coverholder management, reinsurance recoveries and closed year collections. The company has built up a strong client base of Lloyd's syndicates, UK and International insurers and reinsurers. Commenting on today's announcement, Ken Randall, Chief Executive Officer of Randall & Quilter, said: "We are pleased to have successfully concluded the acquisition of JMD, which signals a significant expansion of our service offering to active underwriting entities in the London Market, especially Lloyd's. JMD provides a valuable service to the market by accelerating the collection of premium and allowing participants to measure their own and their partners' premium collection and claims payment efficiency. This is particularly important in light of the impact from the Market Reform initiatives at Lloyd's. We plan to build on the service offering in this important yet often neglected part of the market to establish closer relationships between the R&Q group and the 'live' underwriting market participants." John Dewen, Chief Executive Officer of JMD, said: "We are delighted to be joining R&Q as it represents a good strategic fit for JMD. Our services and skills are complementary and this combination will enable us to jointly deliver services that meet the challenges and changes within the insurance industry. "
Enquiries:
Randall & Quilter Investment Holdings plc
JMD Specialist Insurance Services Group Limited
Clean Communications
Noble & Company Limited
Numis Securities Limited
This information is provided by RNS The company news service from the London Stock Exchange END
ACQPGUBCGUPUGMU More |
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| 21-01-10 | RNS |
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RNS Number : 8878F Randall & Quilter Inv Hldgs PLC 21 January 2010 Acquisition of JMD Specialist Insurance Services Group Limited ('JMD') Randall & Quilter Investment Holdings plc ('R&Q' or the 'Group') is pleased to announce that it has acquired the entire issued share capital of JMD Specialist Insurance Services Group Limited ("JMD") from the existing JMD management team and B.P. Marsh & Partners Plc ("B.P. Marsh"). The total consideration paid is £2,011,250, comprising of £1,312,500 in cash and the allocation of 650,000 existing R&Q ordinary shares currently held on behalf of the Group's Employee Benefit Trust. The acquisition is anticipated to be earnings enhancing in the current financial year. JMD is the provider of innovative insurance services to the London Market, most especially Lloyd's. The majority of its services are focused on enhancing cash flow and profitability and include accelerated premium collection, broker performance review, coverholder management, reinsurance recoveries and closed year collections. The company has built up a strong client base of Lloyd's syndicates, UK and International insurers and reinsurers. Commenting on today's announcement, Ken Randall, Chief Executive Officer of Randall & Quilter, said: "We are pleased to have successfully concluded the acquisition of JMD, which signals a significant expansion of our service offering to active underwriting entities in the London Market, especially Lloyd's. JMD provides a valuable service to the market by accelerating the collection of premium and allowing participants to measure their own and their partners' premium collection and claims payment efficiency. This is particularly important in light of the impact from the Market Reform initiatives at Lloyd's. We plan to build on the service offering in this important yet often neglected part of the market to establish closer relationships between the R&Q group and the 'live' underwriting market participants." John Dewen, Chief Executive Officer of JMD, said: "We are delighted to be joining R&Q as it represents a good strategic fit for JMD. Our services and skills are complementary and this combination will enable us to jointly deliver services that meet the challenges and changes within the insurance industry. "
Enquiries:
Randall & Quilter Investment Holdings plc
JMD Specialist Insurance Services Group Limited
Clean Communications
Noble & Company Limited
Numis Securities Limited
This information is provided by RNS The company news service from the London Stock Exchange END
ACQPGUBCGUPUGMU More |
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| Date/Time | Subject | Author | ||
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| 27-02-06 | ||||
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Date: 27 February 2006
On behalf of: B.P. Marsh & Partners Plc (“BP Marsh”, “The Marsh Group” or “the Company”) For immediate release B.P. Marsh & Partners Plc First Transaction Following AIM Flotation - Investee Company Raises £5.1m B.P. Marsh & Partners Plc, a niche venture capital provider to early stage financial services businesses (AIM: BPM), today announces its first transaction following the Company’s flotation on AIM on 2 February 2006. Hyperion Insurance Group Limited (“Hyperion”), one of BP Marsh’s investee companies, has successfully completed an equity placing which raised £5.1 million of new capital to fund its ongoing growth plan. In the Admission Document issued by BP Marsh on 2 February 2006, the fair market value of BP Marsh's holding in Hyperion, as at 31 July 2005, is shown as £8,080,440. BP Marsh, which exercised its pre-emption rights, participated in the placing by way of the capitalisation of part of a loan (£1,429,661) which was due to be repaid by Hyperion and maintains its shareholding in Hyperion at 27.9%. Murofo Investments SLU, a Spanish Investment Company, becomes a new shareholder in Hyperion taking a 14% stake. In addition, Luis Muñoz-Rojas, director of Murofo, joins the Hyperion Board. Hyperion is one of the UK’s fastest growing independent insurance groups and yesterday announced the doubling of its profits by 94% to £4.03 million. Hyperion intends to continue its record of organic growth through establishing start up operations in new territories as well as actively seeking suitable business operations to add to its group. Hyperion believes this additional equity will provide sufficient finance for the group's immediate plans. The Marsh Group first invested in Hyperion Insurance Group in 1994. The Hyperion Insurance Group owns, amongst other things, Howden, a registered Lloyd’s insurance broker specialising in business critical risks including directors’ and officers’ (“D&O”) and professional indemnity (“PI”) insurance. In 1998, Hyperion set up Dual International, an insurance managing general agency specialising in developing D&O and PI business in Europe. In 2000, Hyperion established CFC Underwriting, a niche underwriting agency specialising in cyber-liability and technology risks. Commenting on the investment, Chairman Brian Marsh OBE, said: “Over the last three years, Hyperion’s revenues have trebled and profits have grown by a compound annual rate of 42%, making Hyperion one of the fastest growing independent insurance groups in the UK. BP Marsh has been a shareholder in Hyperion for more than a decade and we are delighted to be able to continue to support the Group’s development.” David Howden, Chief Executive of Hyperion Group, comments: “Insurance is playing an increasingly critical role in helping businesses protect their balance sheets as they face a greater range of risks. We see tremendous opportunities for companies such as ours with the expertise and agility to move quickly into new products and territories in order to respond to these ever changing needs.” For further information: B.P. Marsh & Partners Plc www.bpmarsh.co.uk Brian Marsh, O.B.E. +44 (0)20 7730 2626 Redleaf Communications (PR to BP Marsh) Emma Kane +44 (0)20 7955 1410 Rob Bain +44 (0)20 7955 1410 Spotlight (PR to Hyperion) Sarah-Jayne Douglas +44 (0)1252 352399 Lesley Russell Notes to Editors: Additional information about BP Marsh and its management: BP Marsh’s current portfolio contains nine companies. More detailed descriptions of the portfolio can be found at www.bpmarsh.co.uk. Over the past 16 years, the Company has assembled a management team with considerable experience both in the financial services sector and in managing private equity investments. Many of the directors have worked with each other in previous roles, and all have worked with each other for at least three and a half years. Pri . . . Read Full Message More | View thread (1) | Respond | Login to Vote up |
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