Gable HoldingsInc. requested for the suspension of trading in its shares on theLondon Stock Exchange, pending the publication of its audited annual report andaccounts for the year ended Dec. 31, 2015, as the company continues to work onsecuring an additional regulatory capital and on a strategic review.
Gable said July 1 that it is at an "advanced"stage in securing an additional regulatory capital of £10 million. Thearrangement still includes a capital contribution from CEO William Dewsallalthough on a "significantly reduced basis" from the previouslyannounced guarantee that he was due to provide. The company said its boarddetermined that there are alternative, third party structures, includingretrospective reinsurance facilities.
Gable added that its strategic review is ongoing and thatits board is currently evaluating different business models for futurecompliance with the Solvency II regime.
"Gable are working with various parties to provideSolvency II solutions for all lines of our business both in the U.K. andEurope," Dewsall said.
The company said it will include an update on the progressof its strategic review in its 2015 annual report, which it hopes to finalizeand publish in early July.