15th Nov 2006 07:01
B.P. Marsh & Partners PLC15 November 2006 Date: 15 November 2006 On behalf of: B.P. Marsh & Partners Plc ("B.P. Marsh" or the "Company") For immediate release B.P. Marsh & Partners Plc Share Transactions - Principal Investment Holdings Limited B.P. Marsh & Partners Plc (AIM: BPM), a niche venture capital provider to earlystage financial services businesses, announces that, on 10th November 2006, theCompany purchased an additional 9,900 ordinary shares in Principal InvestmentHoldings Limited ("Principal") for a consideration of £149,265. This purchaseresulted largely from the Company's exercise of its pre-emption rights on thesale of shares by a retiring executive at Principal. Following dilution of itspreviously disclosed interest in Principal from 19.12% to 18.46% due to theexercise of some employee share options, as a result this transaction BP Marshhas increased its interest in the company to 18.96%. Principal is a predominantly discretionary fund manager with both private andinstitutional clients. BP Marsh made its first investment in Principal inDecember 1999, investing a total of £2,651,956 over the intervening yearsbringing the Company's total investment to date to £2,810,221. As at 31 July2006, its holding in Principal was valued at £7,240,000. Commenting on the purchase, Brian Marsh OBE, Chairman of BP Marsh, said: "Principal Investment Holdings has been making excellent progress inconsolidating and building this extremely successful business in the fundmanagement field with funds under management exceeding £920m. We are delightedto have been able to acquire these additional shares, largely from a retiringexecutive of the company and look forward to any similar opportunities in thefuture." - ends - For further information: B.P. Marsh & Partners Plc www.bpmarsh.co.uk Brian Marsh OBE +44 (0)20 7730 2626 Redleaf Communications (PR to BP Marsh) Emma Kane/Andrew Dunn +44 (0)20 7822 0200 -ends- Notes to Editors: • Further information is available on Principle at the company's website: www.principalinvestment.co.uk About B.P. Marsh & Partners plcAdditional information about BP Marsh and its management: BP Marsh's current portfolio contains nine companies. More detailed descriptionsof the portfolio can be found at www.bpmarsh.co.uk. Over the past 16 years, the Company has assembled a management team withconsiderable experience both in the financial services sector and in managingprivate equity investments. Many of the directors have worked with each other inprevious roles, and all have worked with each other for at least three and ahalf years. Prior to Brian Marsh's involvement in the Company, he spent many years ininsurance broking and underwriting in Lloyd's as well as the London and overseasmarket. He has over 30 years' experience in building, buying and sellingfinancial services businesses, particularly in the insurance sector. Managing Director, Natasha Dunbar, has over 10 years' experience in thefinancial services industry. Having joined the Company in 1994 she was mademanaging director in March 2002. Natasha is responsible for the day to dayrunning of all operational aspects of the business and works closely with BrianMarsh in defining the strategic development of the Company. Investment Director Stephen Crowther joined the Company in 1998. He has over 27years' experience in the London insurance market, in both broking andunderwriting. He researches potential investments, advises investee businessesand monitors their progress. Francis de Zulueta is the Company's Development Director. With a wide-rangingknowledge of the financial services market, he seeks out, researches andevaluates potential new investments for BP Marsh. Following a 23-year brokingcareer with Willis Faber and Aon, among others, he took an active interest inthe mergers, acquisitions and venture capital business of Marsh McLennan. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
B.p Marsh