Barclays and ITM (Information Technology Management) Holding Limited have entered into an agreement in order for Barclays to acquire from ITM 4,250,000 shares in RS2, amounting to 10 per cent of the issued share capital of the company, at a pre-agreed price of €1.22 per share.
The agreement is part of a wider transaction for Barclays to acquire up to 20 per cent shareholding in RS2 through a combination of shares purchased under the agreement with ITM and otherwise from the company’s shares listed on the Malta Stock Exchange.
Global Capital divests insurance broking portfolio
Global Capital plc has announced that its subsidiary Global Capital Insurance Brokers Limited (GCIB) has entered into an agreement to divest the portfolio of its insurance broking business to Mediterranean Insurance Brokers (Malta) Limited.
The transfer of GCIB’s insurance broking business portfolio to MIB will be effective from October 1, after which date GCIB will cease voluntarily to carry on the business of insurance broking.
Global Capital selected MIB as it believes MIB is ideally suited to take over GCIB’s insurance broking business portfolio and to care for the on-going interests of GCIB’s existing insurance broking clients. GCIB’s exit from the insurance broking market is in line with the company’s stated objective to focus on the group’s life and health insurance businesses and its complimentary investment services business.
Medserv’s first issue of €13m 6% Notes
Medserv plc has announced the first issue of €13,000,000 six per cent Secured and Guaranteed Notes due 2023 (with the company’s option to redeem from the year 2020), as part of its €20,000,000 Secured and Guaranteed Debt Issuance Programme.
The offer period commences on September 23 and closes (unless earlier due to oversubscription) on September 27. Sixty per cent of the offer is also being reserved for pre-placement by the financial intermediaries. Subscription agreements for pre-placement must be received on September 19 by 11am.