DGAP-Adhoc: Enterprise Holdings Limited: Enterprise

Enterprise Holdings Limited / Key word(s): Strategic Company Decision 25.07.2016 18:44 Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Enterprise Holdings will expand operations of existing Managing General Agent (MGA) to reduce capital requirement and increase margins Petitioning to wind up its insurance company Enterprise Insurance Company PLC The Gibraltar Financial Services Commission (the Commission) has intervened in the operations of Enterprise Insurance Company PLC (EIC or Company), a 100% owned subsidiary of Enterprise Holdings Limited. EIC has been under close supervision from the Commission and recently the Company provided the Commission with the indicative outcome of the requested independent review which showed a severe deterioration in the Company's position. EIC therefore has requested that the Commission takes steps to control the activities of the Company including issuing winding-up proceedings. Andrew Flowers, Chief Executive Officer of the Enterprise Holdings Limited, comments: "Winding up the existing business of Enterprise Insurance Company PLC is the best solution available to us to protect our policyholders. We plan to begin discussions with the insurance market to determine how we might amend the remit of the already established Managing General Agent (MGA) owned by the Group, Andeva Underwriting Agency Limited (Andeva), to secure capacity from an alternative re-insurer. This would allow the expansion of Andeva's offering to a broader range of products which in turn should generate premium volumes to similar levels historically enjoyed by EIC but without any cost of capital and a significantly reduced overhead. The Group continues its plans to diversify into the leisure sector. The first gastronomy venue, The Oxford Blue, is entering the final stages of refurbishment and is planned to open during September 2016. This will be followed by the launch of a second early in November, both of which are expected to make significant contributions to the Group profits in their first year of trading." 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 735,000 euro and according to the schedule this equals approximately a third of the next interest payment due end of March 2017. 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 19,220,000 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. The current credit balance in the special account is 3,427,000 Euro, which is more than the remaining interest payments until maturity in September 2017. The special account's monthly development is published regularly on the company's website www.enterprise-holdings.de -> Bond 2012/17 -> Factsheet. Service: Upcoming Events 26 September 2016: fourth interest payment of bond 2012/17; the amount is already deposited in the special account End of September: disclosure of annual report as of 31 March 2016 End of November: investor presentation at Deutsche Eigenkapitalforum Conference in Frankfurt End of adhoc release 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 Disclosing person according Durchführungsverordnung (EU) 2016/1055 u.a.: Andrew John Flowers, Chief Executive Officer of Enterprise Holdings Limited 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. 25.07.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Enterprise Holdings Limited 47 Esplanade JE1 0BD St. Helier Jersey Phone: +49 89 -1392889-0 Fax: E-mail: ir@enterprise-holdings.de Internet: www.enterprise-holdings.de ISIN: DE000A1G9AQ4, DE000A1ZWPT5 WKN: A1G9AQ, A1ZWPT Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt End of Announcement DGAP News-Service ---------------------------------------------------------------------------