Result of EGM

20 Jul 2009 11:53

20 July 2009 Chesnara plc Acquisition of Moderna Forsakringar Liv Ab ANNOUNCEMENT OF RESULT OF EXTRAORDINARY GENERAL MEETING

Following the publication on 3 July 2009 of a "Class 1" circular for the purposes of Chapter 10 of the Listing Rules in connection with the acquisition of the entire issued share capital of Moderna Forsakringar Liv AB, from Moderna Finance AB, for a total consideration of SEK250 million (the "Acquisition"), Chesnara plc ("Chesnara") announces that the resolution proposed in connection with the approval of the Acquisition was passed by Chesnara's shareholders at the Extraordinary General Meeting ("EGM") held earlier today.

The resolution proposed at the EGM was carried on a show of hands.

Details of the proxy voting in respect of the resolution is detailed below.

Resolution Votes For % For Votes Against % Against Votes Withheld

1 45,759,338 99.69 144,205 0.31 292,042

Completion of the Acquisition is expected to take place on 23 July 2009.

For further enquiries, please contact:

Chesnara plcGraham Kettleborough, CEOTel: +44 (0) 7799 407519PressMichael Henman, Cubitt ConsultingTel: +44 (0) 207 367 5106

Notes to editors:

Chesnara, which listed on the London Stock Exchange in May 2004, is the owner of Countrywide Assured plc ("CA"). CA is a life assurance subsidiary that is substantially closed to new business. In June 2005 Chesnara acquired City of Westminster Assurance ("CWA") for GBP47.8m. With effect from 30 June 2006, CWA's policies and assets were transferred into CA plc. Chesnara's operating model is to maintain a relatively small governance team. Chesnara continues to seek acquisition opportunities in the financial services sector in areas related to its core life operations.

This announcement does not constitute, or form part of, an offer to sell, or the solicitation of an offer to subscribe for or buy any securities, nor the solicitation of any vote or approval in any jurisdiction.