New Beazley is born as company completes re-domicile
Beazley, the Lloyd’s insurer, has completed its re-domicile to the UK from Ireland.
Beazley announced it plans to return to the UK in February of this year, in a statement from chairman Dennis Holt accompanying the firm’s annual results.
The statement said the firm believed the change would increase the operational efficiency of the group.
The firm has also announced that its scheme of arrangement has become effective and that New Beazley is now the holding company of the Group.
Under the Scheme, Beazley shareholders received one New Beazley share for every ordinary share held by them at the scheme record time. Therefore the total issued ordinary share capital of New Beazley is 523,353,340 New Beazley shares.
New Beazley also confirms that the listing of the existing ordinary shares on the premium segment of the official list was cancelled and the existing ordinary shares ceased to be admitted to trading on the London Stock Exchange's main market for listed securities with effect from 8am on April 13.
Accordingly, the New Beazley Shares were admitted to the premium segment of the Official List and to trading on the London Stock Exchange's main market for listed securities at 8am on April 13.
New Beazley also confirmed, as detailed in the Prospectus published on 25 February, 2016, that the Dividend Access Plan has terminated as of today. The Dividend Access Plan is no longer required as New Beazley is incorporated in England and Wales and will therefore pay UK dividends.
