Information  X 
Enter a valid email address

Broker Network Hldgs (BNH)

  Print      Mail a friend

Wednesday 18 October, 2006

Broker Network Hldgs

Issue of Equity

Broker Network Holdings plc
18 October 2006

                          Broker Network Holdings plc

                                Issue of Equity

18 October 2006

Following the announcement on 1 June 2006 of the acquisition of Towry Law
Insurance Brokers Limited (now trading as TL Risk Solutions Limited) (the '
Acquisition'), the Board of Broker Network Holdings plc (the 'Company')
announces that, in connection with the Acquisition, 39,318 ordinary shares of 2p
each in the capital of the Company (the 'New Shares') have been allotted to
Martin Wright, Managing Director of TL Risk Solutions Limited, for a
consideration of 168 pence per New Share, representing the average bid price for
ordinary shares in the Company during the 2 months following the announcement of
the Acquisition. Martin Wright is not permitted to dispose of any of the New
Shares before 31 May 2011.

The New Shares will rank pari passu with the existing ordinary share capital of
the Company and have been allotted and issued credited as fully paid.

Application has been made for the New Shares to be admitted to trading on AIM
and dealings are expected to commence on 24 October 2006.

Following admission, the total issued share capital of the Company has increased
to 15,404,224 ordinary shares of 2p each.

For further information, please contact:

Broker Network
Grant Ellis (CEO)/Julie Hale (FD)                                   01423 877833

Buchanan Communications
Kelly-Ann French                                                    01943 883990

                      This information is provided by RNS
            The company news service from the London Stock Exchange