Disposal

Tawa plc ("Tawa")

Disposal

Tawa plc ("Tawa"), announce that they have signed a share purchase agreement to sell the entire issued share capital in Hamburger Internationale Rückversicherung AG ("HIR") and its subsidiaries Pavant SAS, Chiltington International Holdings Limited, and Hamburg International Reinsurance Ltd. to Compre Holdings Limited for a gross consideration of €4.2 million (the "Disposal").

Prior to the Disposal becoming effective the other subsidiaries of HIR, will be transferred to Tawa before the Disposal completes for a consideration of €1.0 million.

The Disposal is conditional on, inter alia, BaFIN approval of the change of control. The share purchase agreement contains customary warranties and indemnities and is governed by English law.

The net proceeds will be used by Tawa for general working capital purposes. As at 30 June 2013 HIR had net assets of €4.5 million and HIR contributed losses of €1.0 million for the 6 months to 30 June 2013. The Disposal is not expected to have a material effect on the net assets of Tawa.

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