5th Jun 2009 07:00
Argo Group Limited ("Argo")
Investment in The Argo Fund Ltd
As announced on 22 April 2009, Argo has been contemplating for some time an investment into its own funds.
Argo announces that it has today subscribed US$11m for new shares in The Argo Fund Ltd. The investment has been made directly using Argo's existing cash resources.
As at 31December 2008, Argo had net assets of US$40.93 million and recorded a profit before tax for the period to 31 December 2008 of US$8.17 million.
Argo Capital Management (Cyprus) Limited, a subsidiary of Argo, is the investment manager of The Argo Fund Ltd.
Enquiries:
Argo Group Limited
Andreas Rialas
Shamillia Sivathambu
020 7535 4000
Panmure Gordon
Dominic Morley
020 7459 3600
Related Shares:
Argo Group