Enterprise Holdings Limited
Enterprise Holdings Limited: First Interest Payment for Bond 2015/20 Secured by Credit Balance in Special Account – Enterprise Holdings well prepared for Solvency II Compliance
DGAP-News: Enterprise Holdings Limited / Key word(s): Bond/Rating 2016-03-04 / 11:51 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- First Interest Payment for Bond 2015/20 Secured by Credit Balance in Special Account Enterprise Holdings well prepared for Solvency II Compliance Enterprise Holdings Limited today announced that interest cover of 110% of the annual payment for the 7.00% bond 2015/20 (ISIN: DE000A1ZWPT5) is accrued in the special account with the first payment due on the 30th March 2016. Commenting on the recent volatility in the bond markets generally, Andrew Flowers, Group CEO of Enterprise Holdings said: "We seek to provide investors with the ultimate comfort by placing 110% of the interest cover in our special account." Full compliance with Solvency II equals BBB company rating Enterprise Holdings main subsidiary Enterprise Insurance Company Plc is on target to achieve full Solvency II compliance during the course of calendar year 2016. In line with statements made by the Bank of England and Regulators, such a status leads to a very high confidence level that qualifies the insurance entity to be viewed as an equivalent minimum company rating of BBB from one of the three major global rating agencies. Update on Special Accounts Bond 2015/20: According to the terms and conditions of the bond, starting May 2015 every month the issuer credits 10 percent of the yearly interest payment to this separate bank account. These monies are for the payment of the yearly interests to investors. The current credit balance is 2,302,000 euro. The special account's monthly development is published regularly on the company's website www.enterprise-holdings.de -> Bond 2015/20 -> Factsheet. Bond 2012/17: Based on the estimated monthly profits since September 2012 the company has credited 18,020,000 Euro to this separate bank account and also transferred the interest payments of 2,450,000 Euro each to the bond holders on 26 September 2013 and 2014 and another 2,009,000 Euro on 26 September 2015 respectively. In October 2015 there was a one-off payment of 1,000,000 Euro to the special account and in the following 8,945,000 Euro from the credit balance have been used to redeem bonds. Therefore the current credit balance in the special account is 2,227,000 Euro. The special account's monthly development is published regularly on the company's website www.enterprise-holdings.de -> Bond 2012/17 -> Factsheet. End of corporate news Enterprise Holdings Ltd. Group - an owner-lead insurance firm Lead by its founder the company holds several other subsidiaries together with affiliated service companies. The Group offers independent white label general insurance solutions, apart from life insurance products. The affiliated companies deliver insurance specific auditing services as well as administrative and marketing services. The Group focuses its activities on high-yield niches within the European general insurance market. The main category of the offered insurances is in the field of automobile damage and third party insurance, legal costs insurance, household contents insurance and guarantees. Main markets are currently the United Kingdom, France, Greece and Italy. Bond issue 2015/20 Since 30 March 2015 the Enterprise Holdings' corporate bond 2015/20 is listed in the Entry Standard segment at Boerse Frankfurt (International Security Identification Number (ISIN): DE000A1ZWPT5). Bond issue 2012/17 Enterprise Holdings' corporate bond 2012/17 is listed in the Entry Standard segment at Boerse Frankfurt (International Security Identification Number (ISIN): DE000A1G9AQ4) since 26 September 2012. The originally issued volume of the bond was 35m euro. During the exchange offer that ended 26 March 2015, holders of the bond exchanged 6.3m euro into the new bond 2015/20. Additionally in October 2015 the company redeemed Euro 9.2m bonds from an investment fund. Therefore the total volume of the bond 2012/17 currently is 19.5m euro. For more information about the bonds please visit our website, especially the sections "Bond 2015/20" and "Bond 2012/17" at www.enterprise-holdings.de Bond Investor Relations / Press Please direct all your requests to: max. Equity Marketing GmbH, Maximilian Fischer, Marienplatz 2, 80331 Munich, Germany Tel: +49 89 139 28890 E-Mail: ir@enterprise-holdings.de IMPORTANT NOTE - Disclaimer This information may not be disseminated outside of Germany and Austria, in particular not in the United States, to US Persons according to regulation S of the US Securities Act of 1933 or to publications with a general circulation in the United States. Any person who fails to comply with these restrictions may violate the security laws of certain jurisdictions, in particular of the United States. Bonds in Enterprise Holdings Limited are not publicly offered outside of Germany and Austria. The Notes will not be registered under the Securities Act of 1933, or any applicable state or foreign securities laws, and are subject to substantial restrictions on transfer. In particular, the Notes may not be offered or sold in the U.S., or to or for the benefit of U.S. persons, absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. The securities mentioned in this press release are not being and will not be offered for sale to the public in the United States, Australia, Canada and Japan. --------------------------------------------------------------------------- 2016-03-04 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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