Allied Shareholders Approved Two Proposals

March 23, 2017 | 0 Comments

Allied World Assurance Company Holdings, AG shareholders have approved both of the proposals that were voted on at the company’s special shareholder meeting held in connection with the previously announced merger transaction with Fairfax Financial Holdings Limited.

The approved matters include:

[i] amending the company’s Articles of Association to remove the limitation on the voting rights of a holder of 10% or more of the company’s ordinary shares; and

[ii] the payment, as soon as possible after the closing of an exchange offer by a subsidiary of Fairfax to acquire all of the company’s outstanding ordinary shares, a special dividend of $5.00 per ordinary share to holders of the company’s outstanding ordinary shares as of immediately prior to the closing of the exchange offer and forgoing the $0.26 quarterly dividend.

Scott Carmilani, Allied World’s President and Chief Executive Officer, commented, “We are pleased with the overwhelming support we received today from our shareholders.

“With today’s vote, we move one step closer to completing the transaction with Fairfax, to the benefit of our shareholders, customers, business partners and employees.”

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