Comment is free


People are up in arms about the situation surrounding Giles and its announcement that “there are no proceeds available for any payment to holders of A or B ordinary shares”.

This announcement followed the broker’s acquisition by Arthur J Gallagher, for a cash sum of £233m.

Brendan McManus, in his letter to the shareholders, stated: “Any payment made by the buyer (Gallaghers) will firstly be applied to repay all outstanding bank debt, all loan note principal and accrued interest on the loan notes

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: