Enterprise Holdings Limited
Enterprise Holdings finalizes restructuring with positive impacts on Group financials: Shareholders’ funds have increased by GBP 21.4 million Net Profitability of the Group will increase by up to GBP 10 million in fiscal year 2015/16
DGAP-News: Enterprise Holdings Limited / Key word(s): Forecast/Strategic Company Decision 2015-07-15 / 09:30 --------------------------------------------------------------------- Enterprise Holdings finalizes restructuring with positive impacts on Group financials: Effective 1 April 2015 shareholders' funds have increased by GBP 21.4 million Net Profitability of the Group will increase by up to GBP 10 million in fiscal year 2015/16 The Executive Board of the Enterprise Holdings Limited signed an agreement to bring related parties and insurance related businesses under the roof of the Holding. The transaction has an effective date of 1 April 2015. The deal ensures that a number of highly profitable distribution businesses are brought into Group adding significant value and ultimately providing the potential to achieve significant economies of scale through centralization of some functions. The following companies joined the Group and offer additional services along the value chain: - Claims Consulting Solutions Ltd (claims handling management) - Andeva Underwriting Agency Ltd (insurance broker, underwriting, software, telematics) - Torque Ltd (underwriting advisory) - Andeva Reinsurance Ltd (reinsurance) - Autofuel Fix Ltd (mis-fueling services, maintenance and repair of motor vehicles) - Andeva Gastronomy (pub and hotel management) - Jacobs Yard Limited (real estate, office block) The consolidation of the new businesses significantly increases the consolidated shareholders' funds by GBP 21.4 million. Additionally in current fiscal year the profitability of the Group will increase by between GBP 8 million and GBP 10 million based on the performance of the transferred companies. The revenue of the new companies is expected at around GBP 40 million in the current fiscal year. The Group will now be responsible for employing over 250 people over its operating companies. Andrew Flowers, Group Chief Executive Officer of the Enterprise Holdings Limited, comments: "I am delighted to at long last we are able to bring related party companies into the Group to strengthen cash flows, profitability and shareholder value." End of corporate news Enterprise Holdings Ltd. Group - an owner-lead insurance firm Lead by its founder the company holds several other subsidiaries together with affiliated service companies. The Group offers independent white label general insurance solutions, apart from life insurance products. The affiliated companies deliver insurance specific auditing services as well as administrative and marketing services. The Group focuses its activities on high-yield niches within the European general insurance market. The main category of the offered insurances is in the field of automobile damage and third party insurance, legal costs insurance, household contents insurance and guarantees. Main markets are currently the United Kingdom, France, Greece and Italy. Bond issue 2015/20 Since 30 March 2015 the Enterprise Holdings' corporate bond 2015/20 is listed in the Entry Standard segment at Boerse Frankfurt (International Security Identification Number (ISIN): DE000A1ZWPT5). In March 2015 the bond received an BBB+ rating from Creditreform Rating AG. The issued volume of the bond 2015/20 is approx. 20m euro. Bond issue 2012/17 Enterprise Holdings' corporate bond 2012/17 since 26 September 2012 is listed in the Entry Standard segment at Boerse Frankfurt (International Security Identification Number (ISIN): DE000A1G9AQ4). The follow-up rating from Creditreform Rating AG in 2014, as well as in 2013, confirmed the A- rating that has been achieved in August 2012 when Enterprise Holdings issued a 35m euro bond. During the exchange offer that ended 26 March 2015, holders of the bond exchanged 6.3m euro into the new bond 2015/20. Therefore the total volume of the bond 2012/17 now is 28.7m euro. For more information about the bond please visit our website, especially the sections "Bond 2015/20" and "Bond 2012/17" at www.enterprise-holdings.de Bond Investor Relations / Press Please direct all your requests to: max. Equity Marketing GmbH Maximilian Fischer Marienplatz 2 80331 Munich, Germany Tel: +49 89 139 28890 E-Mail: ir@enterprise-holdings.de IMPORTANT NOTE - Disclaimer Prospective investors of the Securities should recognise that the Securities constitute a risk investment, which can lead to a total loss of their investment in the Securities. Potential investors must therefore be prepared and able to sustain a partial or even a total loss of the invested capital. Any investors interested in purchasing the Securities should assess their financial situation, to ensure that they are in a position to bear the risks of loss connected with the Securities. Therefore, please contact your credit and securities institutions. The admissibility of the acquisition of a security may at various conditions, especially your nationality be bound. Please inform yourself before an investment. This information does not constitute an offer to sell or a solicitation of an offer to purchase any securities of Enterprise Holdings Limited ("issuer"). A decision on an investment in the securities of the issuer may only be made on the basis of the securities prospectus ("prospectus") which is approved by the Federal Financial Supervisory Authority (BaFin) and is published on the website www.enterprise-holdings.de. Only the information contained in the prospectus is binding in connection with the offer. This information may not be disseminated outside of Germany and Austria, in particular not in the United States, to US Persons according to regulation S of the US Securities Act of 1933 or to publications with a general circulation in the United States. Any person who fails to comply with these restrictions may violate the security laws of certain jurisdictions, in particular of the United States. Bonds in Enterprise Holdings Limited are not publicly offered outside of Germany and Austria. The Notes will not be registered under the Securities Act of 1933, or any applicable state or foreign securities laws, and are subject to substantial restrictions on transfer. In particular, the Notes may not be offered or sold in the U.S., or to or for the benefit of U.S. persons, absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. The securities mentioned in this press release are not being and will not be offered for sale to the public in the United States, Australia, Canada and Japan. --------------------------------------------------------------------- 2015-07-15 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 378125 2015-07-15
Aktuelle News
Aktuelle Berichte
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden