LONDON (Alliance News) - Insurance company esure Group PLC on Tuesday updated the timetable for its planned demerger of price comparison Gocompare.com as a separate listed company. Esure said shares in Gocompare.com Group PLC are expected to be admitted to the London Stock Exchange on November 3, having been preceded by an in-specie distribution of shares to esure shareholders on November 2. The demerger is conditional on the approval of esure shareholders at a general meeting on November 1. Shares in esure were down 1.2% at 293.50 pence Tuesday, GoCompare will join FTSE-250 listed price comparison company Moneysupermarket.com Group PLC as a standalone company on the London Main Market. Rival websites Confused and Compare The Market are owned by insurers Admiral Group PLC and BGL Group, respectively. esure acquired full ownership of GoCompare in December 2014. It said that in 2015, its first full year of ownership, the price comparison business made a pretax profit of GBP23.3 million on revenue of GBP118.9 million. GoCompare's gross assets at June 30 were GBP32.0 million. Shore Capital said GoCompare is likely to have a market capitalisation of GBP385 million. By Adam Clark; adamclark@alliancenews.com Copyright 2016 Alliance News Limited. All Rights Reserved.
Esure has announced that shares in it will be listed on the London Stock Exchange on 1 November , with an in - specie distribution of shares to esure shareholders on 2 November . The demerger is conditional on the approval of all shareholders at a general meeting on 4 November .