LONDON, 26 November, 2010 – Panmure Gordon & Co., a leading independent institutional stockbroker and investment bank, is pleased to announce that it has advised Chesnara plc on a £26.7m equity placing. Panmure Gordon acted as joint bookrunner. Chesnara’s core business is managing life assurance companies, in particular closed books in the UK. The placing was via an accelerated book-build and the funds will be used to part-fund the acquisition of Save & Prosper Group, a UK closed life book, which is being acquired for £63.5m. Hugh Morgan, managing director in Panmure Gordon’s investment banking team, commented: “Panmure Gordon is dedicated to supporting our clients as they seek growth opportunities. We are delighted to have assisted Chesnara in funding this highly complementary acquisition.”