LAWFUEL – Press Release Service – Allen & Overy is advising Leo C…

LAWFUEL – Press Release Service – Allen & Overy is advising Leo Capital plc on a Tender Offer to purchase its own shares. The Tender Offer will be made by JPMorgan Cazenove Limited and, in the United States, by Cazenove, Inc. (on behalf of JPMorgan Cazenove) which will acquire the shares of Leo Capital and then sell such shares to Leo Capital for cancellation.

The Tender Offer is subject to, amongst other things, approval of the shareholders of Leo Capital plc to a waiver by the Panel on Takeovers and Mergers of the requirement under Rule 9 of the City Code for the extended Rayne family (being shareholders in the Company) to make a general offer to the shareholders of Leo Capital plc following implementation of the Tender Offer. Shareholder approval will be sought at an extraordinary general meeting to be held on 13 July 2006. If the Tender Offer is approved, settlement of the Tender Offer is expected to take place on 19 July 2006.

Leo Capital plc will also seek authority from shareholders to make general market purchases of up to 14.99 per cent of its issued share capital following completion of the Tender Offer subject to certain conditions.

The Allen & Overy team was led by corporate partner Ian Lopez and assistance was provided by associates Terence Leung and Nick Stuart.

Commenting, Ian Lopez said: “We are delighted to have assisted Leo Capital on this important transaction, shortly after its listing which we also advised on.”

For further information please contact Sarah Fitzpatrick ([email protected]) on +44 (0)20 7330 2395.

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