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2nd August 2020
Hastings Insurance Group confirmed that it has been approached regarding a possible cash offer
Hastings Insurance Group confirmed that it has been approached by Sampo and Rand Merchant Investment Holdings (RMI)(the “Consortium”) regarding a possible cash offer for the issued and to be issued share capital of Hastings not already owned or controlled by the Consortium. Following this approach, Hastings has established an independent committee of the Board, comprising the full Board of Hastings excluding Herman Bosman, the RMI representative to consider this approach and possible cash offer. The company is in discussions with the Consortium.
There can be no certainty that any firm offer will be made for the company, nor as to the terms on which any offer might be made.
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