11th Jan 2010 16:43
ICAP plc Announcement
ICAP plc has received the following statement from IPGL Limited (IPGL).
"On 11 January 2010 IPGL's subsidiary company INCAP Finance B.V. sold 7,000,000 of the 118,069,560 ICAP plc ordinary shares it owns at a price of £4.40 per share. The proceeds from this sale will be used by IPGL to continue the reduction in leverage on its balance sheet in which it has made significant progress during the past year. IPGL had previously planned to make other asset disposals, as part of the rebalancing of its investment portfolio, a process which it expects to revisit as liquidity & value returns to alternative asset classes."
Michael Spencer, the founder and chief executive of ICAP plc, together with his wife and family trusts, are majority shareholders of IPGL Limited.
In addition, Michael Spencer sold 3,308,248 at a price of £4.40 per share of the 6,140,778 ICAP plc ordinary shares comprising his personal interests.
Following this transaction, Michael Spencer had a personal interest in 2,832,530 ICAP plc ordinary shares and through IPGL he had a further interest in 111,069,560 ordinary shares. Together these represent 17.4% of ICAP plc's share capital."
Contacts:
|
Mike Sheard |
Director of Corporate Affairs |
+44 (0) 20 7050 7103 |
|
Neil Bennett |
Maitland |
+44 (0) 20 7379 5151 |
About ICAP
ICAP is the world's premier interdealer broker and provider of post trade services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, equities and equity derivatives through voice and electronic networks. ICAP is also the source of global market information and research for professionals in the international financial markets. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com
About IPGL
IPGL Limited is a private holding company which focuses on partnering with experienced management teams to build fast growing businesses in financial services and other sectors where we can use the group's deep sector expertise and entrepreneurial skills of the investment team to increase the probability of success and accelerate each company's growth. Our interest is in developing young businesses into industry leaders over the long term. The value we create is then invested into new opportunities. Over the past 20 years the group has had considerable success in building broking, retail CFD, fund management, insurance and gaming companies.
At the moment, the group has large minority or majority holdings in over 15 public and private trading companies ICAP plc, the FTSE 100 listed interdealer broker and a majority holding of City Index, a leading provider of CFD and spread betting services. In addition to the principal activity of being a long term investor in businesses, the group is a successful trader in alternative assets such as wine, art and property. More information can be found at: www.ipgl.co.uk
Related Shares:
IAP.L