Admiral's Float Triggers Pounds 37,000 Windfall for Staff

Evening Standard - London › September 23, 2004

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Summary

MOTOR insurer Admiral has injected some life into the stalled new issues market with a listing today that values the group at Pounds 711 million.

At 275p, just above the middle of the range it was offering the City earlier this month, the float triggers windfalls averaging Pounds 37,000 each for 1500 employees based mostly in Swansea and Cardiff who own shares through a trust.

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Extract

Admiral's Float Triggers Pounds 37,000 Windfall for Staff

Founder and chief executive Henry Engelhardt makes a...

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