Embargoed until 6.15pm
Not for release, publication or distribution, in whole or in part, directly or indirectly, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction
2 July 2012
HARDY UNDERWRITING BERMUDA LIMITED
(the "Company" or "Hardy")
ACQUISITION EFFECTIVE AND CANCELLATION OF LISTING
Further to the announcement made on 29 June 2012, Hardy is pleased to confirm that the Registrar of Companies in Bermuda has issued a certificate of merger in relation to the Acquisition by CNA under the Bermuda Companies Act at 6pm (London time) today and that all remaining Conditions to the acquisition of the entire issued and to be issued share capital of Hardy, as set out in the Circular sent to shareholders on 2 April 2012, have been declared satisfied or waived. Accordingly, the Merger has become effective.
Hardy Shares will be cancelled from the Official List of the UK Listing Authority and will cease to be admitted to trading on the London Stock Exchange (LSE: LSE.L - news) from 8 a.m. (London time) tomorrow, Tuesday 3 July 2012.
Settlement of the consideration due to Hardy Shareholders is expected to be sent on or before Monday 16 July 2012.
Terms used in this announcement shall have the same meaning as in the Circular unless stated otherwise.
The Circular is available for viewing on the investor relations section of Hardy's website http://www.hardygroup.bm.
- ENDS -
Enquiries
Hardy Tel: +44 (0) 20 7626 0382
David Mann, Chairman
Barbara Merry Chief Executive
Rothschild Tel: +44 (0) 20 7280 5000
(Joint financial adviser to Hardy)
Crispin Wright
Peel Hunt Tel: +44 (0) 20 7418 8900
(Joint financial adviser to Hardy)
James Britton
Redleaf Polhill Tel: +44 (0) 20 7566 6700
(PR adviser to Hardy) hardy@redleafpolhill.com
Emma Kane
CNA Tel: +1 312 822 5000
Thomas F. Motamed, Chairman and Chief Executive
Aon Benfield Securities Tel: +44 (0) 20 7578 7000
(Financial adviser to CNA)
Paul Rayner / Ross Milburn
Fleishman-Hillard Tel: +44 (0)20 7395 7017
(PR adviser to CNA)
Alan O'Sullivan
