Hampden raises £5.2m on AIM

Hampden Underwriting plc has announced that it has raised an initial £5.2 million (before expenses) at a price of £1.00 per ordinary share through an offer for subscription to the public in the UK.

Application has been made for the Admission to AIM of 5,238,566 ordinary shares of the Company. Admission in relation to these ordinary shares issued to date effective and dealings on AIM commenced at 8.00am today under the ticker symbol “HUW”. The Offer will remain open until 28 September 2007.

Of the total gross proceeds of the Offer to date, £5.1 million was subscribed in cash and £0.1 million in shares in Heritage Underwriting Agency plc. The net cash proceeds from this initial fund raising will be used to acquire underwriting participations in Lloyd’s syndicates and invest in other Lloyd’s related opportunities.

Sir Michael Oliver, Chairman of Hampden Underwriting, said: “We are delighted with investor demand and are very pleased to be joining AIM. We do not believe that any other company provides the same level of concentrated exposure to Lloyd’s underwriting and this is a key distinction. As we believe that there is significant further demand amongst UK investors, the Offer has been extended.”