DGAP-Adhoc

Enterprise Holdings Limited: Directors of Enterprise Holdings Limited appoint Administrators to protect Assets and Business

Enterprise Holdings Limited / Key word(s): Bond/Legal Matter

24.09.2016 15:43

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Directors of Enterprise Holdings Limited appoint Administrators to protect
Assets and Business

The Directors of Enterprise Holdings Limited (EHL), have yesterday applied
for an Order in a UK Court for the appointment of Administrators to protect
and safeguard the assets and business of EHL.

The appointment by court order of Stephen Conn and Jonathan Avery-Gee of
CG&Co as Administrators will allow time for the Company to review and
restructure its operations without the threat of proceedings from any of
its potential creditors.

The Directors of EHL have become aware of a potential erroneous legal
action that has the possibility of deflecting resources from its attempts
to restructure and reshape its business. Such an action would have harmed
the position of any potential creditors. Furthermore the Directors are
deeply concerned at the actions in Gibraltar by some of the agencies
involved in the Provisional Liquidation of its subsidiary, Enterprise
Insurance Co. Plc. The Director's concerns surround actions that appear
to neither be in policyholder nor creditor's interests.

The Administrators will take all necessary steps to engage with these
agencies to ensure the interests of the creditors of EHL are properly
protected.

The Administrators will oversee the Company's continued efforts to
restructure some or part of its business including an attempt to deliver a
Managing General Agent (MGA) solution for its insurance business.

This move will ensure that EHL has the opportunity to restructure its
business and provide the best possible result for its creditors.

A further communication will be issued by the Administrator in the coming
days.

End of adhoc release

Enterprise Holdings Ltd. Group - an owner-lead insurance firm
Lead by its founder the company holds several other subsidiaries together
with affiliated service companies. The Group offers independent white label
general insurance solutions, apart from life insurance products. The
affiliated companies deliver insurance specific auditing services as well
as administrative and marketing services. The Group focuses its activities
on high-yield niches within the European general insurance market. The main