Aspen Insurance noted today that leading proxy advisory firms Institutional Shareholder Services (ISS) and Egan-Jones Proxy Services has recommend that Aspen shareholders REJECT both proposals made by Endurance Specialty Holdings (Endurance.).
They furhter said that the shareholders should REVOKE any authorizations submitted on such proposals by executing and returning Aspen’s BLUE revocation card.
Chris O’Kane, Aspen’s Chief Executive Officer, said, "We are pleased that ISS and Egan-Jones agree with our position and are recommending that Aspen shareholders reject both of Endurance’s proposals. Rather than offering real value, Endurance is pursuing coercive legal tactics in an effort to buy Aspen at the lowest possible price. We urge shareholders to reject both of Endurance’s proposals."
In its recommendation, ISS noted that the proposals would cause unnecessary costs for Aspen shareholders (and Endurance shareholders) without providing equivalent benefit to Aspen shareholders.
Aspen’s Board of Directors urges shareholders to REJECT both of Endurance’s proposals by promptly signing, dating and returning Aspen’s BLUE revocation card and disregarding Endurance’s white authorization card.
Do NOT sign Endurance’s white authorization card.
Sign, date and return the BLUE revocation card.
3. Even if Aspen shareholders have already signed Endurance’s white authorization card, shareholders have every right to revoke their authorizations by signing, dating and returning the BLUE revocation card.