UK P&I Club and TT Club have secured shareholder acceptances exceeding 89% for their joint offer to acquire Thomas Miller Holdings, made on 18 June 2026 through TMH Bidco, a special-purpose vehicle established by the two clubs to facilitate the transaction.
To support the transition process, two representatives of TMH Bidco will join Thomas Miller’s Board.
According to the two clubs, the acquisition of Thomas Miller is expected to be complete in Q4 2026, subject to the receipt of requisite regulatory approvals.
The development follows the signing of a framework agreement by UK P&I Club and TT Club formally committing both clubs to a merger, which is expected to conclude on 20 February 2027, subject to all required approvals.
Jan Valkier, Chairman, UK P&I Club, commented, “We are encouraged by the strength of support that Thomas Miller’s shareholders have shown for the proposed acquisition offer.
“This marks a significant step forward in the strategic ambitions of both the UK P&I Club and TT Club and reflects a shared confidence in the direction we are taking together for the Group’s long-term benefit.
“We look forward to progressing the transaction and concluding it later this year as we continue to explore our potential merger with the TT Club in parallel.”
Morten Engelstoft, Chairman, TT Club, said, “The positive response to this proposal is a strong endorsement of the strategic rationale behind it.
“Taking full ownership of Thomas Miller will provide both Clubs with a stronger platform to build on their shared strengths while maintaining the high standards of service and support that our Members value.
“This is an important milestone in the process, and we look forward to working through the remaining steps to bring the transaction to a successful conclusion in the months ahead.”
