15 Jun 2007 09:14
Wellington Underwriting PLC15 June 2007 15 June 2007 Wellington Underwriting plc (the "Company") Change of name and Capital Reduction and Reduction of the Share Premium Account The Company announces that it has, as part of a group re-organisation followingthe acquisition of the Company by Catlin Group Limited, re-registered from beinga public company to a private company, having met the requirements of Section 53of the Companies Act 1985 (as amended) and changed its name to CatlinUnderwriting Limited on 6 June 2007. The Company further announces that, subject to the passing of the resolutionsdescribed below, it is intended that the Company be re-registered as anunlimited company. The special resolution to re-register as a private company was passed at anExtraordinary General Meeting held on 6 June 2007 and the shareholders of theCompany will today vote by way of written resolutions on whether the Company bere-registered as an unlimited company and in connection therewith change itsname to Catlin Underwriting (the "Re-Registration"). Following the proposed Re-Registration it is intended that the Company reducesits share capital to £100 and reduces its share premium account to nil (the "Capital Reduction"). Following completion of the proposed Re-Registration andCapital Reduction, the Company will maintain sufficient net assets to meet itsobligations under the listed subordinated loan notes issued by the Company (the"Loan Notes"). The Loan Notes will remain listed on the Official List of theFinancial Services Authority. The reduction of capital will not be subject to court approval as the Companywill be an unlimited company at the time the members vote on the reduction ofcapital and share premium account proposals. Subject to the passing of the resolutions, the Company will adopt a newmemorandum of association and articles of association to reflect the proposedchanges. A further announcement will be made shortly to report on the passing of theshareholders resolutions. END This information is provided by RNS The company news service from the London Stock Exchange