BP Marsh & Partners has announced details of a share buyback policy. The company says that it is its ‘custom and intention, when the share price drops to more than 25% below its published Net Asset Value, to buy small parcels of shares and place them into Treasury and decide at a later point what treatment to apply to them’. Under the terms of its buyback programme, the Company may purchase Ordinary Shares provided that the maximum purchase price is an amount not higher than105 per cent of the average market value of the Ordinary Shares for the five business days immediately preceding the date on which the Ordinary Shares are purchased. It says that the maximum amount of money allocated to the share buy-back at this stage is £50,000.
About BP Marsh & Partners
BP Marsh & Partners is a specialist private equity investor in early stage financial services business and will consider investment opportunities based in the United Kingdom, Australia, Europe, North America and occasionally elsewhere. As at 13 June 2017, the company says that its portfolio contains fourteen companies.
The company says that, since formation over 25 years ago, the Company has assembled a management team with considerable experience both in the financial services sector and in managing private equity investments. Many of the directors have worked with each other in previous roles, and all have worked with each other for at least five years.
Prior to his involvement in the company, Brian Marsh (the company’s CEO), spent many years in insurance broking and underwriting in Lloyd’s as well as the London and overseas market. The company says that he has over 30 years’ experience in building, buying and selling financial services businesses, particularly in the insurance sector.
BP Marsh announces policy to buyback shares when the discount is greater than 25% : BPM