29th Sep 2006 14:59
Pavilion Insurance Network PLC29 September 2006 29 September 2006 TIDM: PVL Pavilion Insurance Network Plc ("Pavilion" or "the Company") Notification of significant holdings - Hiscox plc buys stake in Pavilion - Under sections 198 to 202 of the Companies Act 1985 the following informationfalls to be disclosed: The Company was notified on 29 September 2006 that on 28 September Hiscox bought6,825,000 Ordinary Shares in the Company at 7.75 pence per Ordinary Share,representing 13.45%. of the issued share capital of the Company On the same day, the Company was notified that Andrew Selby, Chairman of ChiefExecutive of the Company has sold 500,000 Ordinary Shares in the Company at aprice of 7.75 pence and thatMrs Z Selby has sold 3,098,000 Ordinary Shares in the Company at the same price,to enable this transaction to be fulfilled. Following these transactions whichboth took place on 28 September , they hold 4,328,574 (8.53%) and 6,766,286(13.34%) Ordinary Shares in the Company, respectively. Together with theOrdinary Shares held in a family trust, the Selby family remains interested in11,319,860 Ordinary Shares, representing 22.3 % of the issued share capital ofthe Company. On 28 September, the Company was notified that Michael Grimes sold 2,642,000Ordinary Shares in the Company at 7.75 pence per Ordinary Share on the same day. Following this transaction, Mr Grimes remains interested in 6,000,858 OrdinaryShares of the Company, representing 11.83% of the issued share capital of theCompany. Ends For further information please contact: Pavilion Insurance Network Plc Insinger de Beaufort Parkgreen CommunicationsAndrew Selby Shaun Whyte Justine Howarth / Ana RibeiroTel: 02476 851001 Tel: 020 7190 7034 Tel: 020 7493 3713 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Hiscox