Acquisition (7084B)

TIDMTAW

RNS Number : 7084B

Tawa PLC

19 April 2012

Completion of the acquisition of Hamburger Internationale Ruckversicherung AG

Tawa plc ("Tawa") the quoted insurance services provider and run-off investor, today announces the completion of the acquisition of Hamburger Internationale Ruckversicherung 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 
   Ruckversicherung AG 
 
  Peel Hunt LLP (nominated adviser 
   and broker) 
  James Britton 
   Guy Wiehahn                                   020 7418 8900 
 
  FWD PR 
  Victoria Sisson 
   Alexandra Thompson                            020 7623 2368

This information is provided by RNS

The company news service from the London Stock Exchange

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