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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Alea | LSE:ALEA | London | Ordinary Share | BMG015751024 | COM SHS USD0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.20 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMALEA RNS Number : 3064W Alea Group Holdings(Bermuda) Ltd 17 November 2010 17 November 2010 Alea Group Holdings (Bermuda) Ltd Interim Management Statement HAMILTON, Bermuda - Alea Group Holdings (Bermuda) Ltd. ('Alea' or 'the Group') issues its interim management statement for the period from 30 June 2010 to today's date. Performance during the period Reported insurance and reinsurance claims to date are generally in line with current reserving assumptions as Alea continues the orderly run-off of its balance sheet. Operating expenses to date are generally in line with expectations as Alea continues to efficiently scale its operating costs to the reduced business activity resulting from the run-off of its total liabilities and concomitant reduction in its assets. During the period, the Group experienced a further impairment loss of $1.9 million to the carrying values of its non-agency US mortgage-backed securities. Ratings and valuations of the Group's non-agency US mortgage-backed securities have not required any change to the Group's buy and hold strategy for such securities. Significant events during the period At a meeting of the Board of Directors of the Company held on 16 November 2010, the Directors approved a resolution proposing to cancel the standard listing of the Company's Common Shares, which are held and settled in CREST by means of depositary interests and which are traded on the main market of the London Stock Exchange (the "Cancellation"). For further details of the Cancellation please see the relevant RNS announcement also made today (17 November 2010). For further information, please contact: Jeff Rosenthal +1 441 296 9150 Sheel Sawhney +1 860 258 6524 Financial Dynamics Nick Henderson +44 20 7269 7114 #### Past performance cannot be relied upon as a guide to future performance. Certain statements made in this document that are not based on current or historical facts are forward-looking in nature including, without limitation, statements containing the words "believes," "anticipates," "plans," "projects," "intends," "expects," "estimates," "predicts," and words of similar import. All statements other than statements of historical facts including, without limitation, those regarding the Group's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives) are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. In particular, forecasting of reserves for future losses is based on historical experience and future assumptions. As a result, they are inherently subjective and may fluctuate based on actual future experience and changes to current or future trends in the legal, social or economic environment. Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. These forward-looking statements speak only as at the date of this document or other information concerned. Alea Group Holdings (Bermuda) Ltd expressly disclaims any obligations or undertaking (other than reporting obligations imposed on us in relation to our listing on the London Stock Exchange) to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any changes in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. References in this paragraph to the Group are to Alea Group Holdings (Bermuda) Ltd and its subsidiaries from time to time. This information is provided by RNS The company news service from the London Stock Exchange END IMSKMMMMLVRGGZM
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