BDK Bradstock Grp.

RNS Number:5093G
AIM
23 January 2003



         ANNOUNCEMENT TO BE MADE BY AIM APPLICANT AT LEAST 10 BUSINESS DAYS PRIOR TO ADMISSION


ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME:
Bradstock Group PLC

COMPANY ADDRESS:
Knollys House, 9-13 Byward Street, London

COMPANY POSTCODE:
EC3R 5AS

COUNTRY OF INCORPORATION:
England

COMPANY BUSINESS:
A group engaged as reinsurance brokers

DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue
price):
2,799,992 ordinary shares with nominal value of 25p

CAPITAL TO BE RAISED ON ADMISSION:
Nil

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:
Nicholas Bryce Smith (Chairman and Chief Executive)

David Griffiths (Finance Director)
Rodney Jeffreys (Executive Director)
Edmund McGrath (Non-Executive Director)

PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED
SHARE CAPITAL STATING WHETHER BEFORE OR AFTER ADMISSION:
Before and after admission:
Belgate Pty Ltd                                                                                   14.14%
B Austin                                                                                           6.78%
P W J Cresswell                                                                                    5.49%
Bradstock Group Pension Scheme Trustees Ltd                                                        4.76%
R E G Gibson                                                                                       4.49%

NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (G) OF THE
AIM RULES.

During the last 12 months the Company settled a claim with the Trustee's of the Bradstock Group Pension
Scheme.  Full details of the settlement are set out in the announcement made on 13 May 2002.

ANTICIPATED ACCOUNTING REFERENCE DATE:
30 September

NAME AND ADDRESS OF NOMINATED ADVISER:
Credit Lyonnais Securities, Broadwalk House, 5 Appold Street, London EC2A 2DA

NAME AND ADDRESS OF BROKER:
Credit Lyonnais Securities, Broadwalk House, 5 Appold Street, London EC2A 2DA

DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES.
N/A

DATE OF NOTIFICATION:
23 January 2003

NEW/ UPDATE (see note):
New

LISTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY,
DETAILS OF ITS INVESTMENT STRATEGY

The strategy adopted by Bradstock is to re-build the Company, inter alia, by the acquisition of teams or
individuals who can bring and generate income.  Bradstock has taken the first step here in acquiring two
teams of individuals who specialise in the areas of Alternative Risk Transfer, and Aviation insurance
and reinsurance broking business.  The Company has also recruited a number of individual producing
brokers who add complementary skills.

The Company does not intend at this stage to get back into retail direct business unless such business
falls into the category of wide margin returns.  The handling of direct business is extremely labour
intensive and therefore does not give the kind of margins that can be achieved by specialist classes of
business, including reinsurance.

The workload deriving from the run-off of discontinued activities still takes up a disproportionate
amount of management time.  Accounting matters have already been addressed through the utilisation of an
outside consultant.  The Company is also working to achieve a more efficient handling of other aspects
of the run-off of discontinued businesses.

A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS
OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED OR
AN APPROPRIATE NEGATIVE STATEMENT


Please refer to announcements made on the following dates:

15 April 2002

24 April 2002

13 May 2002

25 June 2002

9 August 2002

12 September 2002

A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT ITS WORKING CAPITAL WILL
BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION

The directors of Bradstock have no reason to believe that its working capital will be insufficient for
at least twelve months from the date of its admission.

DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES.

None


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
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