skip to content

Market News

New funds sought for Just Retirement merger plan

25 September 2015 07:25

Just Retirement Group has announced its intention to raise equity share capital by way of a fully underwritten placing and open offer.

Separately, Partnership Assurance Group has also announced an underwritten placing of 39,995,997 new shares representing approximately 9.99% of its current issued ordinary share capital.

It is intended that the two equity capital raisings will raise in aggregate net proceeds of approximately £150m, which is consistent with the proposal announced last month by Just Retirement to merge with Partnership Assurance.

As a result of the merger, Just Retirement shareholders are expected to own approximately 60% of the combined group with Partnership Assurance shareholders having approximately 40% of the equity.

The Boards of both companies believe that the merger will deliver significant strategic and financial benefits for the combined group,

Story provided by StockMarketWire.com

Related Company: JRG

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

-

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.