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July 11, 2014
18:05 EDTENH, AHLProxy firm ISS, Egan-Jones reject both Endurance Specialty proposals
Aspen Insurance Holdings (AHL) noted that leading proxy advisory firms Institutional Shareholder Services and Egan-Jones Proxy Services recommend that Aspen shareholders REJECT both proposals made by Endurance Specialty (ENH) and REVOKE any authorizations submitted on such proposals by executing and returning Aspen’s BLUE revocation card. Chris O’Kane, Aspen’s CEO, said, “We are pleased that ISS and Egan-Jones agree with our position and are recommending that Aspen shareholders reject both of Endurance’s proposals. Rather than offering real value, Endurance is pursuing coercive legal tactics in an effort to buy Aspen at the lowest possible price. We urge shareholders to reject both of Endurance’s proposals.” In its recommendation, ISS noted that the proposals would cause unnecessary costs for Aspen shareholders, and Endurance shareholders, without providing equivalent benefit to Aspen shareholders. Aspen’s Board of Directors urges shareholders to REJECT both of Endurance’s proposals by promptly signing, dating and returning Aspen’s BLUE revocation card and disregarding Endurance’s white authorization card.
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