Published 4 May 2010
Insured Group Ltd – the former Lombard Group Ltd – made its initial allotment of 1.4 billion new shares yesterday in the reverse takeover of Australian Consolidated Insurance Ltd. The remaining 70 million shares will be issued when Insured has completed the compulsory acquisition process.
Australian Consolidated shareholders approved the reverse takeover on 10 March. Lombard’s ticker code on the NZX will change to INS on Thursday 6 May.
14 March 2010: Lombard shareholders approve reverse takeover
23 February 2010: Reverse takeover of Lombard to proceed
6 July 2009: Lombard announced reverse takeover as it faces NZX suspension Want to comment? Go to the forum.
Attribution: Company release, story written by Bob Dey for the Bob Dey Property Report.