GAH Gable Hldgs

TIDMGAH

RNS Number : 9406Z

Gable Holdings Inc

01 June 2016

1 June 2016

Gable Holdings Inc.

Update on potential related party transaction

Further to its announcement of 25 May 2016, Gable Holdings Inc. ("Gable" or the "Company") announces that, following further consideration, William Dewsall notified the Company that it would be inappropriate for Hogarth Underwriting Agencies Limited, as a regulated entity authorised by the Financial Conduct Authority, to provide the GBP10 million guarantee that the Board of Gable intends should form part of Gable's regulatory capital.

Accordingly, the Board of Gable notes that William Dewsall intends to use a separate private vehicle wholly owned by him to provide the guarantee to Gable Insurance AG, Gable's regulated insurance subsidiary ("GIAG"). The guarantee is intended to form part of Gable's regulatory capital and would be available to GIAG at any time but should only be called by GIAG in the event it experiences a significant and unexpected decline in its current financial position.

At this stage, the Company is still working to finalise the structure and terms of the guarantee and the agreement remains subject inter alia to the formal approval of the FMA in Liechtenstein and, as a related party transaction, the recommendation of the independent directors that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

A further announcement will be made in due course.

Enquiries:

 
 Gable Holdings Inc.               Tel: +44(0) 20 7337 7460 
  William Dewsall, Chief 
  Executive 
  Michael Hirschfield, Group 
  Finance Director 
  John Bick, Investor Relations 
 Zeus Capital Limited              Tel: +44(0) 20 3829 5000 
  Nicholas How, Corporate 
  Finance 
  Adam Pollock, Corporate 
  Broking 
 Haggie Partners LLP              Tel : +44(0) 20 7562 4444 
  Peter Rigby 
 

About Gable Holdings Inc.

Gable is a European non-life insurance company underwriting a comprehensive range of specialist policies for the commercial sectors in the UK, Denmark, France, Germany, Italy, Norway, Spain and Sweden. Gable benefits from a low-cost online underwriting platform and the Company has continued to successfully grow its business geographically whilst simultaneously exploiting a range of niche insurance segments which exist across the EU, which is delivered through the EU passporting mechanism. Gable Holdings Inc is quoted on the London Stock

Exchange's AIM market.   For further information please visit www.gableholdings.com. 

This information is provided by RNS

The company news service from the London Stock Exchange

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June 01, 2016 10:49 ET (14:49 GMT)

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