TIDMBRIT
RNS Number : 5086D
Brit PLC
28 March 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA OR
JAPAN OR ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL.
This announcement is an advertisement and not a prospectus.
Investors should not purchase or subscribe for any transferable
securities referred to in this announcement except on the basis of
information contained in the prospectus in its final form that has
been published by Brit PLC in connection with the admission of its
ordinary shares (the "Ordinary Shares") to the premium listing
segment of the Official List of the UK Listing Authority and to
trading on the London Stock Exchange plc's main market for listed
securities (the "London Stock Exchange") ("Admission").
FOR IMMEDIATE RELEASE
28 March 2014
Publication of Prospectus
Followingthe pricing announcement today in connection with its
initial public offering ("IPO"), Brit PLC ("Brit" or the "Company"
and, together with the other members of its group, the "Brit
Group") confirms that its prospectus dated 28 March 2014 (the
"Prospectus") has been approved by the UK Listing Authority.
The Prospectus relates to the admission of the Company's
ordinary shares to the premium listing segment of the Official List
of the UK Listing Authority and to trading on the London Stock
Exchange's main market for listed securities.
Further details of the IPO are set out in the Prospectus, which
will shortly be available on the Company's website
(www.britinsurance.com) and is available for inspection at the
Company's registered office: 55 Bishopsgate, London, EC2N 3AS,
United Kingdom.
A copy of the Prospectus will be submitted to the National
Storage Mechanism and will shortly be available for inspection at
www.morningstar.co.uk/uk/NSM.
http://www.rns-pdf.londonstockexchange.com/rns/5086D_-2014-3-28.pdf
ENQUIRIES
Brit Group: +44 (0) 20 7984 8500
Public Relations Advisers to Brit Group
Brunswick: +44 (0) 20 7404 5959
James Olley
Sole Sponsor, Joint Global Co-ordinator and Joint Bookrunner
J.P. Morgan Cazenove: +44 (0) 20 7742 4000
Mike Collar, Greg Chamberlain, James Taylor, Charles
Pretzlik
Joint Global Co-ordinator and Joint Bookrunner
UBS: +44 (0) 20 7567 8000
Jonathan Retter, Christopher Smith, Hugh Man, Alia Malik
Co-lead Manager
Canaccord Genuity: +44 (0) 20 7665 4500
Roger Lambert, Chris Connors, Joe Weaving
Co-Lead Manager
Numis: +44 (0) 20 7260 1000
Alex Ham, Charles Farquhar, Robert Bruce
Important notice
The release, publication or distribution of this announcement
may be restricted by law in certain jurisdictions and persons into
whose possession any document or other information referred to
herein comes should inform themselves about and observe any such
restriction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
This announcement is not for release, publication or
distribution, directly or indirectly, in or into the United States
(including its territories and possessions, any state of the United
States and the District of Columbia), Australia, Canada or Japan or
any other jurisdiction where such release, publication or
distribution would be unlawful.
This announcement does not constitute or form part of any offer
or solicitation to purchase or subscribe for securities in the
United States, Australia, Canada, Japan or any other jurisdiction
where such offer or sale would be unlawful. The Ordinary Shares
have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "Securities Act"). The
Ordinary Shares may not be offered or sold in the United States,
except pursuant to an exemption from the registration requirements
of the Securities Act. There will be no public offer of securities
in the United States.
This communication is distributed in any member state of the
European Economic Area which applies the Prospectus Directive (each
such member state, a "Relevant Member State", and this Directive
together with any implementing measures in any member state, the
"Prospectus Directive") only to those persons who are qualified
investors for the purposes of the Prospectus Directive in such
member state, and such other persons as this document may be
addressed on legal grounds, and no person that is not a relevant
person or qualified investor may act or rely on this document or
any of its contents. The expression "Prospectus Directive" means
Directive 2003/71/EC (and any amendments thereto, including the
2010 PD Amending Directive, to the extent implemented in the
Relevant Member State) and includes any relevant implementing
measure in each Relevant Member State, and the expression "2010 PD
Amending Directive" means Directive 2010/73/EU.
Any purchase of Ordinary Shares in the Offer should be made
solely on the basis of the information contained in the final
prospectus issued by the Brit Group on 28 March 2014 (the
"Prospectus") in connection with Admission. No reliance may or
should be placed by any person for any purposes whatsoever on the
information contained in this announcement or on its completeness,
accuracy or fairness. The information in this announcement is
subject to change.
This announcement does not constitute a recommendation
concerning the Offer. The price and value of securities can go down
as well as up. Past performance is not a guide to future
performance. Information in this announcement or any of the
documents relating to the Offer cannot be relied upon as a guide to
future performance. Potential investors should consult a
professional advisor as to the suitability of the Offer for the
person concerned.
J.P. Morgan Securities plc and UBS Limited, each of which is, in
the United Kingdom, authorised by the Prudential Regulation
Authority and regulated by the PRA and FCA, together with Canaccord
Genuity Limited and Numis Securities Limited, each of which is, in
the United Kingdom, authorised and regulated by the FCA (together
with J.P. Morgan Securities plc and UBS Limited, the "Banks"), are
each acting exclusively for the Brit Group and no one else in
connection with the Offer and will not regard any other person as
their respective client in relation to the Offer and will not be
responsible to anyone other than the Brit Group for providing the
protections afforded to their respective clients or for giving
advice in relation to the Offer or the contents of this
announcement or any transaction, arrangement or other matter
referred to herein.
In connection with the Offer, the Banks and any of their
respective affiliates, acting as investors for their own accounts,
may subscribe for or purchase Ordinary Shares and in that capacity
may retain, purchase, sell, offer to sell or otherwise deal for
their own accounts in such Ordinary Shares and other securities of
Brit Group or related investments in connection with the Offer or
otherwise. Accordingly, references in the Prospectus to the
Ordinary Shares being issued, offered, subscribed, acquired, placed
or otherwise dealt in should be read as including any issue or
offer to, or subscription, acquisition, placing or dealing by, the
Banks or any of their respective affiliates acting as investors for
their own accounts. The Banks and any of their respective
affiliates do not intend to disclose the extent of any such
investment or transactions otherwise than in accordance with any
legal or regulatory obligations to do so.
None of the Banks, nor any of their respective subsidiary
undertakings, affiliates or any of their respective directors,
officers, employees, advisers, agents or any other person accepts
any responsibility or liability whatsoever for, or makes any
representation or warranty, express or implied, as to the truth,
accuracy, completeness or fairness of the information or opinions
in this announcement (or whether any information has been omitted
from the announcement) or any other information relating to Brit
Group, its subsidiaries or associated companies, whether written,
oral or in a visual or electronic form, and howsoever transmitted
or made available or for any loss howsoever arising from any use of
this announcement or its contents or otherwise arising in
connection therewith.
In connection with the Offer, a stabilising manager, or any of
its agents, may (but will be under no obligation to), to the extent
permitted by applicable law, over-allot Ordinary Shares or effect
other transactions with a view to supporting the market price of
the Ordinary Shares at a higher level than that which might
otherwise prevail in the open market. The stabilising manager will
not be required to enter into such transactions and such
transactions may be effected on any stock, market, over-the-counter
market, stock exchange or otherwise and may be undertaken at any
time during the period commencing on the date of the commencement
of conditional dealings of the Ordinary Shares on the London Stock
Exchange and ending no later than 30 calendar days thereafter.
However, there will be no obligation on the stabilising manager or
any of its agents to effect stabilising transactions and there is
no assurance that stabilising transactions will be undertaken. Such
stabilising measures, if commenced, may be discontinued at any time
without prior notice. In no event will measures be taken to
stabilise the market price of the Ordinary Shares above
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