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June 27, 2014
11:37 EDTENH, AHLEndurance Specialty sends letter to Aspen Insurance
Endurance Specialty Holdings (ENH) is sending a letter to the shareholders of Aspen Insurance Holdings Limited (AHL) urging them to make their voices heard on two critical questions fundamental to Aspen's strategic direction and corporate governance. This letter follows the June 18 mailing of a definitive solicitation statement, including a WHITE authorization and consent card, that empowers Aspen shareholders to requisition a special general meeting of shareholders in connection with a proposal to increase the size of Aspen's board of directors from 12 to 19 directors and to authorize support for the proposal of a Scheme of Arrangement by Endurance. Endurance states in its letter that it has set July 25 as the target date for Aspen shareholders to vote on its two proposals. Endurance says "The degree of entrenchment that has been displayed by Aspen's board and management is astonishing. Their refusal to engage with Endurance is a clear abdication of their responsibility to you, although it is not surprising given the history of the Aspen board and management consistently acting in their own - and not their shareholders' - best interests."
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