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Lancashire Holdings Ltd – Notice of Special General Meeting
Hamilton, Bermuda – 09 August, 2013 – On 7 August 2013 the board of directors (the “Board”) of Lancashire Holdings Limited (“Lancashire” or the “Company”; Ticker: LHL BH) announced that it has entered into conditional agreements to acquire the entire issued and to be issued share capital of Cathedral Capital Limited (“Cathedral”), a privately owned Lloyd’s insurer, from Alchemy Partners and Cathedral management, together with loan notes issued by Cathedral’s subsidiary, Cathedral Capital (Investments) Limited for a net consideration of £266 million (the “Acquisition”).
In connection with the Acquisition, the Company announces that the shareholder circular (the “Circular”) containing, amongst other things, details of the Acquisition, will be made available to shareholders on Lancashire’s website today and is being posted to shareholders. A copy of the Circular is available to download from Lancashire’s website at www.lancashiregroup.com and will be available to view via the National Storage Mechanism which is located at http://www.hemscott.com/nsm.do .
The Circular contains a notice of a Special General Meeting (“SGM”) to be held on Thursday 5 September 2013 commencing at 11 a.m. (UK time) at Level 11, Vitro, 60 Fenchurch Street, London EC3M 4AD, United Kingdom. The meeting is being called to consider and, if thought fit, pass a resolution to approve the Acquisition. Shareholders entered on the register of members at 5:00pm (UK time) on 2 August 2013 are entitled to attend and vote at the meeting (either in person or by proxy).
Subject to the resolution being duly passed, it is anticipated subject to satisfaction of other conditions that the Acquisition will be completed by the end of December 2013. If this expectation changes, the Company will give notice of the change in an announcement through a regulatory information service.
For further information, please contact:
Lancashire Holdings Limited
Christopher Head +44 20 7264 4145 chris.head@lancashiregroup.com
Jonny Creagh-Coen +44 20 7264 4066 jcc@lancashiregroup.com
Haggie Partners ++44 (0) 20 7562 4444
David Haggie/Rebecca Young