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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gable Hldgs | LSE:GAH | London | Ordinary Share | KYG3705F1019 | ORDS 0.25P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jul 2019 to Jul 2024
TIDMGAH
RNS Number : 9406Z
Gable Holdings Inc
01 June 2016
1 June 2016
Gable Holdings Inc.
Update on potential related party transaction
Further to its announcement of 25 May 2016, Gable Holdings Inc. ("Gable" or the "Company") announces that, following further consideration, William Dewsall notified the Company that it would be inappropriate for Hogarth Underwriting Agencies Limited, as a regulated entity authorised by the Financial Conduct Authority, to provide the GBP10 million guarantee that the Board of Gable intends should form part of Gable's regulatory capital.
Accordingly, the Board of Gable notes that William Dewsall intends to use a separate private vehicle wholly owned by him to provide the guarantee to Gable Insurance AG, Gable's regulated insurance subsidiary ("GIAG"). The guarantee is intended to form part of Gable's regulatory capital and would be available to GIAG at any time but should only be called by GIAG in the event it experiences a significant and unexpected decline in its current financial position.
At this stage, the Company is still working to finalise the structure and terms of the guarantee and the agreement remains subject inter alia to the formal approval of the FMA in Liechtenstein and, as a related party transaction, the recommendation of the independent directors that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.
A further announcement will be made in due course.
Enquiries:
Gable Holdings Inc. Tel: +44(0) 20 7337 7460 William Dewsall, Chief Executive Michael Hirschfield, Group Finance Director John Bick, Investor Relations Zeus Capital Limited Tel: +44(0) 20 3829 5000 Nicholas How, Corporate Finance Adam Pollock, Corporate Broking Haggie Partners LLP Tel : +44(0) 20 7562 4444 Peter Rigby
About Gable Holdings Inc.
Gable is a European non-life insurance company underwriting a comprehensive range of specialist policies for the commercial sectors in the UK, Denmark, France, Germany, Italy, Norway, Spain and Sweden. Gable benefits from a low-cost online underwriting platform and the Company has continued to successfully grow its business geographically whilst simultaneously exploiting a range of niche insurance segments which exist across the EU, which is delivered through the EU passporting mechanism. Gable Holdings Inc is quoted on the London Stock
Exchange's AIM market. For further information please visit www.gableholdings.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
UPDSSWFLFFMSELM
(END) Dow Jones Newswires
June 01, 2016 10:49 ET (14:49 GMT)
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