CB. Cbg Group

    RNS Number : 6557H
  CBG Group Plc
  07 November 2008
   

    7 NOVEMBER 2008

    CBG Group plc 
    (AIM:CB.) 

    Placing of 1,375,000 new ordinary shares at a placing price of 120p per share raising �1.65 million

    CBG Group plc ("CBG" or the Company"), the Manchester based insurance broker and 
financial services specialist, is pleased to announce that today through Zeus Capital, and 
with Relgaire Hichens, arranged the placing of 1,375,000 new ordinary shares of 4p each 
("Ordinary Shares") at a price of 120 pence per share raising �1.65 million before expenses, conditional upon admission. Application has
been made for the new Ordinary 
Shares to be admitted to trading on 13 November 2008.
    Zeus Capital, nominated adviser and joint broker to the Company, has placed the shares 
with existing institutional investors. 
    The proceeds of the placing will be used, together with increased banking facilities recently negotiated with The Royal Bank of
Scotland, to expand the business organically and, as opportunities arise, by acquisition for the core business of insurance broking.
    Laurie Turnbull, Chairman of CBG Group plc, commented:
    "It is testament to our proven successful track record that existing institutional shareholders 
have taken the opportunity to increase their shareholdings in the Company at a time when 
there is turmoil in the financial markets. 
    "Our objective is to increase earnings per share year on year, and a placing of shares at the current time and in this quantity is
consistent with this strategy. The resultant funds raised, together with our new banking facilities, provide us with substantial funding
resources to enhance and grow our business in line with the Company's model of acquisition, consolidation and organic growth".

    Enquiries please contact:
       
    CBG Group plc                                                                                    0161 920 0200
    Mike Askew, Group Managing Director                                            07720 400 356

    Bishopsgate Communications Ltd                                                    020 7562 3350
    Nick Rome                             

    Advisors:
    Zeus Capital                                                                                          0161 831 1512
Alex Clarkson

    Relgaire Hichens                                                                                   0207 7382 4479
    Martin Lampshire
    

Notes to Editors:

    CBG Group plc, listed on AiM (Ticker: CB.) is a corporately active business with its head 
office in Manchester, employing more than 180 people and is expanding rapidly. Its 
operating businesses, regulated by the Financial Services Authority, provide a full advisory 
service in insurance, employee benefits, wealth management and specialist sports insurance to SME's, private clients and professional
sportsmen. Since becoming a 
public quoted company in 2003 it has completed 18 acquisitions and has an 
impressive record of delivering substantial profitable growth year on year.

     Further information available on CBG Group plc website: www.cbg-group.co.uk






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