Craven House Capital PLC Acquisition of insurance broker in United States (0730Q)
01 Junio 2018 - 8:49AM
UK Regulatory
TIDMCRV
RNS Number : 0730Q
Craven House Capital PLC
01 June 2018
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Craven House Capital Plc
("Craven House" or the "Company")
Acquisition of insurance broker in United States
The Company today announces that it has acquired the entire
share capital of IIU Inc. ("IIU") for $2,500,000 in cash.
Through its subsidiaries based in the United States, IIU sells
global medical insurance products for international travelers,
specialising in policies covering high-risk destinations and
emerging markets. All policies are fully underwritten with no claim
risk remaining with IIU.
The adjusted pre-tax income of the business being acquired for
the full year 2017 was $500,105.
The Company also announces that it has agreed the early
repayment of the $2,500,000 convertible loan made to Xenod Tour
Oikod Epeix Afon Daktylidi AE ("Xenod"), the Greek holding company
whose sole asset is the Hotel Yiannakiny, as announced on 30 August
2016.
The proceeds of the repayment of the Xenod loan were used to
fund the acquisition of IIU.
Ends
For further information please contact:
Craven House Capital Plc
Mark Pajak
www.Cravenhousecapital.com
Tel: 0203 286 8130
SI Capital
Broker
Nick Emerson
www.sicapital.co.uk
Tel: 01483 413500
SPARK Advisory Partners Limited
Nominated Adviser
Matt Davis/Mark Brady
www.Sparkadvisorypartners.com
Tel: 0203 368 3550
About Craven House Capital:
The Company's Investing Policy is to invest in or acquire a
portfolio of companies, partnerships, joint ventures, businesses or
other assets globally in any geographic jurisdiction. The company
will invest in both developed and developing markets providing long
term patient capital and is often involved in special situations,
restructuring, expansion and turn around investments in crisis and
transitioning economies.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ACQUGUMCQUPRGWG
(END) Dow Jones Newswires
June 01, 2018 09:49 ET (13:49 GMT)
Craven House Capital (LSE:CRV)
Gráfica de Acción Histórica
De Sep 2024 a Oct 2024
Craven House Capital (LSE:CRV)
Gráfica de Acción Histórica
De Oct 2023 a Oct 2024