Lloyd's List Publishing confirms float plans
Friday 10 April 1998
The flotation of the former publishing arm of the Lloyd's of London insurance market will see four directors enter the ranks of media millionaires and give hundreds of employees a share bonanza.
Shares in LLP have been priced at 285p, valuing the group at pounds 137.5m, far higher than estimates of pounds 125m and the pounds 82.5m group's management paid for the business in 1995.
David Gilbertson, chief executive and former editor of Lloyd's List, is selling shares worth pounds 456,000 in the flotation and will retain a stake worth pounds 1.4m. Stuart Wallis, the chairman of LLP, who has already amassed a fortune from the sale of the pharmaceuticals group Fisons and who used to supply print for Lloyd's List, will own shares worth pounds 1.8m. Peter Miller, finance director, and deputy chairman Ian Lindsay-Smith will become paper millionaires.
LLP is due to start trading on 17 April.
Investment column, page 22
The battle for control of Stieg Larsson's £30m legacy
Geoffrey Macnab does not like the comedian's big screen debut
Look beyond the usual shows for the best festive telly
Michelle Nijhuis' daughter insists (s)he is, and she learnt a valuable lesson on gender in books
newsFormer soldier taped 33 of the animals to the floor and then stamped on them one by one
Robin Thicke named sexist of the year 2013
PAs cleared of fraud - and Nigella Lawson left reeling at 'ridiculous sideshow' of drug allegations and public dissection of marriage to Charles Saatchi
Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
Paul Walker death caused by speed alone
Apollo Theatre collapse: Scores injured after ceiling collapses in London's West End
- 1 Sun will 'flip upside down' within weeks, says Nasa
- 2 Christmas comes early: Justin Bieber is 'retiring from music'
- 3 Iain Duncan Smith leaves Commons food banks debate early
- 4 Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
- 5 Burglar steals video tapes of child abuse, hands them into police
- < Previous
- Next >
iJobs Money & Business
£Negotiable: Citifocus: High calibre individual with institutional client serv...
£120000 - £150000 per annum: Cornwallis Elt : Programme Manager, Strategy Lead...
£55000 - £120000 per annum: Pro-Recruitment Group: The Financial Services Tran...
£600 - £700 per day: Harrington Starr: Client based in West London is looking ...