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SSP Holdings - Bids £43.4m for Sirius Financial

June 2007

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • SSPH
  • Price:
  • 141p
SSP has made a recommended cash and share offer for its smaller quoted rival, Sirius Financial Solutions (SIR; 225p). It is offering 178p cash and 0.4 new SSP shares for each Sirius which values Sirius at £43.4m. The cash part of the offer will come from new bank facilities and from the placing of 3.6m new SSP shares at 140p. Like SSP, Sirius is involved in the development and supply of software and services to the insurance sector. In the UK, the combination will strengthen SSP's business as one of the largest specialist suppliers of general insurance software with systems relating to brokers, underwriting agencies and insurance companies. It also adds a strong presence in the systems for large IFAs. The key products are Si ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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