Insurer to move from AIM to LSE

Lloyd’s insurer Omega is to offer shares to acquire up to £125m additional capacity on Syndicate 958 for 2010 and each subsequent year of account and has applied to the London Stock Exchange move from AIM to the Official List.

It is expected that dealings in Omega’s common shares will commence on 7 July.

Finance raising highlights

  • Capacity offer to acquire additional capacity on Lloyd's Syndicate 958 by way of a share offer with a cash alternative
  • Depending upon the level and type of acceptances as between the share offer and the cash alternative the limit of the capacity offer is between £50m and £125m
  • Share Offer of 0.332 of a new common share per £1 of capacity equating to a value of 45 pence per £1.00 of capacity
  • Cash Alternative of 40p per £1 of capacity
  • Capacity Offer to close on 1 July 2009