Supplementary Prospectus

RNS Number : 3401P

Beazley Group PLC

24 March 2009

 



Beazley Group plc - Publication of Supplementary Prospectus 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR IN OR INTO ANY JURISDICTION WHERE SUCH ACTION WOULD BREACH ANY APPLICABLE LAW.

London, March 24, 2009

Further to the announcement made on 13 February 2009, Beazley Group plc ('Beazley') announces that a supplementary prospectus (the 'Supplementary Prospectus') in connection with the 9 for 19 rights issue of approximately 166 million shares and placing of approximately 17 million shares was published yesterday.

The Supplementary Prospectus has been published as the Beazley Board considers that the publication of the prospectus and circular, referred to in Beazley's announcement of today relating to the proposed redomicile of the Beazley Group, constitutes a significant new factor, pursuant to section 81 of the Financial Services and Markets Act 2000 ('FSMA').

Under section 87Q of the FSMA, any person who, prior to the publication of the Supplementary Prospectus has accepted their entitlements under the Rights Issue may withdraw such application within the period of two business days beginning with the first business day after the date of the Supplementary Prospectus. Any person wishing to exercise such right of withdrawal must deposit a written notice of withdrawal to Equiniti Limited, Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA. The exercise of withdrawal rights will not be permitted after payment by the relevant person of their subscription in full and the allotment of the New Shares to such person becoming unconditional.

Copies of the Supplementary Prospectus will be made available to shareholders free of charge upon request during normal business hours on Monday to Friday each week (public holidays excepted) from and during the date of publication of the Supplementary Prospectus at the registered office of the Company at Plantation Place South, 60 Greater Tower Street, London EC3R 5AD. The Supplementary Prospectus will also be available for download to eligible persons from Beazley's website www.beazley.com. 

In addition, the Supplementary Prospectus will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility at the Financial Services Authority, 25 North Colonnade, Canary Wharf, E14 5HS. 

Enquiries: 

Beazley Group plc Andrew Horton, Chief Executive Officer Arthur Manners, Company Secretary	020 7667 0623
Numis Securities Limited Oliver Hemsley  Tom Booth	020 7260 1000
Lexicon Partners Limited  Angus Winther Nick Chapman	020 7653 6000

This announcement does not constitute an invitation or offer to sell or the solicitation of an invitation or offer to buy any security. None of the securities referred to in this announcement shall be sold, issued, exchanged or transferred in any jurisdiction in contravention of applicable laws. 

Numis Securities Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively as sponsor, stockbroker, lead manager, lead underwriter and joint financial advisor to the Company in connection with the Rights Issue and Placing and for no one else and will not be responsible to anyone other than Beazley for providing the protections afforded to customers of Numis Securities Limited, or for providing advice in relation to the Rights Issue and Placing or any other matters referred to in this announcement. 

Lexicon Partners Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively as joint financial advisor to the Company in connection with the Rights Issue and Placing and for no one else and will not be responsible to anyone other than Beazley for providing the protections afforded to customers of Lexicon Partners Limited, or for providing advice in relation to the Rights Issue and Placing or any other matters referred to in this announcement. 

Note to editors:

Beazley Group, plc (BEZ.L), is the London-based parent company of global, specialist insurance businesses with operations in the UK, US, France, Germany, Singapore, Hong Kong and Australia. Beazley manages four Lloyd's syndicates: Syndicate 2623 and Syndicate 623 underwrite a broad range of insurance and reinsurance business worldwide; Syndicate 3623 focuses on accident and health business; and 3622 is a dedicated life syndicate. For 2009 Beazley's syndicates share an aggregate underwriting capacity of £810m. All Lloyd's syndicates are rated A by A.M. Best. In the US, Beazley's underwriters focus on writing specialist insurance products in the admitted market, backed by Beazley Insurance Company, Inc., an admitted carrier in all 50 states; and surplus lines risks, backed by the Beazley syndicates at Lloyd's. Beazley Insurance Company, Inc. is rated A by A.M. Best. 

Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business. 

For more information please go to: www.beazley.com

 

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