Hardy’s Bailie buys 30,000 shares – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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Hardy’s Bailie buys 30,000 shares

Hardy Underwriting Bermuda Ltd. director Paul Bailie has bought 30,000 shares of the re/insurer following rival Beazley's decision to withdraw its offer for Hardy last week.

Mr Bailie, who is managing director of the Bermuda operations of Hardy, bought 30,000 shares at 275p a share, a notification from the company stated yesterday. The total cost of the transaction was £82,500. Mr Bailie's total holding is now 41,479 shares.

Beazley's advances were twice rejected by Hardy after the Ireland-based company said it was willing to offer 350p a share. Hardy has also bought back 100,000 of its own shares, also at a price of 275p.

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Published December 22, 2010 at 1:00 am (Updated December 22, 2010 at 6:54 am)

Hardy’s Bailie buys 30,000 shares

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