MRH » Topics » Item 8.01 Other Events.

This excerpt taken from the MRH 8-K filed Nov 20, 2009.

Item 8.01               Other Events.

 

Montpelier Re Holdings Ltd. today announced that its Board of Directors has authorized the repurchase of an additional $150 million in common shares.  Common shares may be purchased in the open market or through privately negotiated transactions and there is no stated expiration date associated with this additional share repurchase authorization.

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

Montpelier Re Holdings Ltd.

 

 

 

(Registrant)

 

 

 

 

 

 

 

 

 

 

November 20, 2009

 

By:

/s/ Jonathan B. Kim

Date

 

Name:

 Jonathan B. Kim

 

 

 

Title:

 General Counsel and Secretary

 

2


This excerpt taken from the MRH 8-K filed Nov 5, 2009.

Item 8.01     Other Events.

 

On November 5, 2009, Montpelier Re Holdings Ltd. issued a press release, which is attached as Exhibit 99.1, announcing that its Board of Directors approved a twenty percent (20%) increase in the Company’s regular quarterly dividend per share.

 

This excerpt taken from the MRH 8-K filed Jun 6, 2008.

 ITEM 8.01.  OTHER EVENTS.

 

On June 5, 2008, Montpelier Re Holdings Ltd. (the “Company”) acquired all of the outstanding common shares of Blue Ocean Re Holdings Ltd. (“Blue Ocean”) previously held by Blue Ocean’s minority shareholders for $30.5 million (the “Blue Ocean Transaction”).  Prior to the Blue Ocean Transaction, the Company owned 42.2% of Blue Ocean’s outstanding common shares.

 

The Blue Ocean Transaction received unanimous approval by all minority shareholders, including Wilbur L. Ross, a Director of the Company.  Mr. Ross serves as Chairman and CEO of WL Ross & Co. LLC, a firm that manages two investment funds which collectively owned 9.8% of Blue Ocean’s common shares at March 31, 2008.

 

As a result of the Blue Ocean Transaction, the Company expects to record an extraordinary gain, representing the excess of the fair value of net assets acquired over the Company’s cost, of less than $1 million.

 

Blue Ocean is a Class 3 Bermuda reinsurer specializing in property catastrophe retrocessional protection.  During the second half of 2007, Blue Ocean ceased writing new business and the last of its in-force policies recently expired. Prior to the Blue Ocean Transaction, Blue Ocean was considered a “variable interest entity” as defined under Financial Accounting Standards Board Interpretation No. 46R and has historically been consolidated into the Company’s financial statements.

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

Montpelier Re Holdings Ltd.

 

 

 

(Registrant)

 

 

 

 

 

 

 

 

 

 

 

 

 

June 5, 2008

 

By:

 

/s/ Jonathan B. Kim

 

Date

 

Name:

 

Jonathan B. Kim

 

 

 

Title:

 

General Counsel and Secretary

 

 


This excerpt taken from the MRH 8-K filed May 25, 2006.

Item 8.01. Other Events.

The Company announced today that WL Ross & Co. LLC has agreed to make a $100 million investment in Montpelier through a private sale of 6,896,552 common shares at a price of $14.50 per common share. The first $50 million purchase of common shares will close on or about June 1, 2006, and the second $50 million purchase of common shares will close upon expiration of the Hart-Scott-Rodino antitrust notification period. Prior to the second close the purchase price of the second tranche may be adjusted in certain circumstances.

Pursuant to a Purchase Agreement entered into between the parties, the Company will grant the investing funds certain registration rights with respect to their purchase of common shares. Also, the Board of Directors of the Company intends to appoint Wilbur L. Ross to fill an existing vacancy upon the second closing of the purchase of common shares.

Item 9.01. Financial Statements and Exhibits.
          (d) Exhibits.
The following exhibit is furnished as part of this report:
 
  Exhibit No.   Description  
  99.1   Press Release of the Registrant, dated May 25, 2006.  





SIGNATURE
          Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
    Montpelier Re Holdings Ltd.
    (Registrant)
 
May 25, 2006   By:  /s/ Jonathan B. Kim
Date   Name:  Jonathan B. Kim
Title: General Counsel and Secretary

Index to Exhibits

Exhibit No.   Description

 
99.1   Press Release of the Registrant, dated May 25, 2006
     

 






Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki