Medico-legal firm planning ATE insurer launch from Gibraltar
The Board of LitComp Plc, a national supplier of medico-legal and psychological reports, has conditionally agreed to acquire the entire issued share capital of Fairmont Holdings Limited, the holding company of Elite Insurance Company Limited. Elite has not traded but is at an advanced stage of applying for a licence in Gibraltar as an insurance company, pending satisfactory funding, and intends to specialise in After the Event Insurance.
In order to provide the necessary funding, the Company has, through its broker, Daniel Stewart & Company Plc, raised £3,605,000 of 10 per cent convertible secured loan stock 2008. The Loan Stock isOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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