DGAP-News: Enterprise Holdings Limited: Enterprise Holdings

Enterprise Holdings Limited / Key word(s): Bond 02.07.2014 08:30 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Enterprise Holdings Starts Buy-Back Program for Corporate Bond - Volume and duration of buy-back program is limited - Goal to finance growth remains The Executive Board of the Enterprise Holdings Limited (Enterprise) resolved to start a temporary and amount-limited buy-back program for the 7.00 % bond (ISIN: DE000A1G9AQ4) that was issued on September 26, 2012. The buy-back program is limited to max. 2.0 million euro. It will commence on July 2, 2014 and end on December 31, 2014 at the latest, if the maximum number of bonds is not achieved at this point in time. In general the bank commissioned with the transaction may not purchase more than 25 % of the average daily volume of the bonds at the exchange, at which the purchase is made, in accordance with the applicable laws. Share buy backs up to 50 % of the average daily volume of the bonds at the exchange, at which the purchase is made, can be carried out and will be announced by the company in the federal gazette on the day before the trade according to sec 9 of the terms and conditions of the bond. Each purchase price of the bonds may not exceed the respective independent prior transaction price and may not exceed the highest independent offer price at the exchange at the time of the purchase. The buy-back program may, if required and legally admissible, be paused and resumed at any time. The Company reserves the right to sell the corporate bonds again. The goal of financing growth, which was intended by the bond issue, still remains. Andrew Flowers, Chief Executive Officer of the Enterprise Holdings Limited, comments: "During the last days we noticed irrational and volatile prices in our bond. Despite having enough liquidity and facing the bargain to buy back bonds from the market, we could not do so. With the buy-back program we are now able to react on very short notice. We still expect that 2013/14 will become the most profitable year in the company's history. Our balance sheet remains stable and is still very solid. And with the measures we already have taken to increase efficiency, we expect continuous profits in the current fiscal year." Update on Special Account According to the terms and conditions of the bond, the issuer shall deposit an amount equal to 50% of the issuer's estimated monthly net distributable profits in a specially designated bank account to secure the bond holders' position. Based on the estimated monthly profits the company already credited 8,350,000 euro to this separate bank account and also transferred the first interest payment of 2,450,000 euro to the bond holders on 26 September 2013. Therefore the current credit balance in the special account is 5,904,000 euro which includes the interest payment for 2013. The special account's monthly development is published regularly on the company's website www.enterprise-holdings.de -> bond -> factsheet. Service: Upcoming Events End of August: follow up rating by Creditreform September 26: second interest payment for the bond End of September: consolidated Group annual statements as of 31 March 2014 End of November: investor presentation at Deutsche Eigenkapitalforum Conference in Frankfurt 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 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 Prospective investors of the Securities should recognise that the Securities constitute a risk investment, which can lead to a total loss of their investment in the Securities. Potential investors must therefore be prepared and able to sustain a partial or even a total loss of the invested capital. Any investors interested in purchasing the Securities should assess their financial situation, to ensure that they are in a position to bear the risks of loss connected with the Securities. Therefore, please contact your credit and securities institutions. The admissibility of the acquisition of a security may at various conditions, especially your nationality be bound. Please inform yourself before an investment. This information does not constitute an offer to sell or a solicitation of an offer to purchase any securities of Enterprise Holdings Limited ("issuer"). A decision on an investment in the securities of the issuer may only be made on the basis of the securities prospectus ("prospectus") which is approved by the Federal Financial Supervisory Authority (BaFin) and is published on the website www.enterprise-holdings.de. Only the information contained in the prospectus is binding in connection with the offer. 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. 02.07.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------