Trisura Group Ltd V.TSU

Primary Symbol: T.TSU Alternate Symbol(s): TRRSF

Financial Services Insurance - Property & Casualty

Trisura Group Ltd. is a specialty insurance provider. The Company is engaged in operating in surety, risk solutions, corporate insurance, and fronting business lines of the market. It has investments in subsidiaries through which it conducts insurance and reinsurance operations. Those operations are primarily in Canada (Trisura Canada) and the United States (Trisura US). Its segments include the operations of Trisura Canada, comprising surety business underwritten in both Canada and the United States, and risk solutions, fronting and corporate insurance products primarily underwritten in Canada and Trisura US, which provides specialty fronting insurance solutions underwritten in the United States. The main products offered by its surety business line are contract surety bonds, commercial surety bonds, developer surety bonds, and new home warranty insurance. Its contract surety bonds, such as performance and labor and material payment bonds, are primarily for the construction industry.

TSX:TSU - Post by User

Trisura Group Ltd

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Comment by mullatschakon Jul 11, 2009 4:00am

359 Views

Post# 16131339

RE: RE: TSU ready to rock again

...found it, it is clear now!

What I do not understand is, What TSU will do with the funds? I could see sales of 13,5 Mio EWD shares for 0,8 which is around 10,5 Mio CAD.

Compared to:The Company has made an offer to the Series A and B debenture holders to sell 13.5 million (approximately 50% of the total number of shares held by Company) of shares in Eaglewood and to make an early repayment of half the outstanding, being CAD $2 million of each debenture A and B. In addition the Company will pay the full November & December 2009 interest payment in cash.

It is quite more cash then was needed for the transaction? Is this right, or where is the mistake?

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