BFIS - Insurance Banking, Finance, Insurance and Securities (BFIS)

Bermuda Argo Group Tender

📄 Tender ID: 444556664 📅 Published: 30 May 2019

📋 Tender Overview

Argo Group International Holdings Ltd. an international underwriter of specialty insurance and reinsurance products in the property and casualty market announced that based on a preliminary count provided by its proxy solicitor shareholders have voted to elect all five of its Class III Directors to the Argo Board.We appreciate the strong support from our shareholders said Gary Woods Chairman of the Board. The Board and management value the conversations we have had with our shareholders in recent months regarding our strategy governance and plans for continuing to create shareholder value. We deeply value their perspectives and we plan to maintain an active and productive dialogue with our shareholders as we continue to integrate their feedback and execute on our strategy.Argo also disclosed that prior to Voces announced withdrawal days before the Companys Annual General Meeting Voces nominees and proposals had received limited shareholder support. As of the evening of May 20 Sedgwick Browne Argos Class III Director targeted for removal by Voce had received support from shareholders holding over 80 of the submitted proxies. Additionally almost 80 of the submitted proxies had voted against the removal of Argos Chairman Gary Woods and more than 80 of the submitted proxies had voted against the removal of the other directors targeted by Voce.Additionally based on preliminary votes the non-binding advisory resolution on executive compensation received 50.53 of the votes in favor with 49.47 against. We will work with our shareholders to fully understand the concerns that influenced the vote regarding the compensation of our executive officers and are committed to taking the necessary actions to address those concerns said Mr. Woods. Our Board will carefully consider these results as well as future shareholder inputin determining executive compensation going forward. We thank our shareholders for their continued feedback and support.Final voting tallies from this years annual meeting are subject to certification by the Companys inspector of elections and will be included in the Companys report to be filed with the Securities and Exchange Commission once certified.

🔍 Key Information

📄
Tender Reference No.
444556664
📅
Publication Date
30 May 2019
🌐
Sector
BFIS - Insurance
📝
Notice Type
News
📍
Location
Bermuda

📁 Documents & Downloads

No documents found

🏷️ CPV

No CPV found

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🕒 Submission deadline
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days remaining · 30 May 2019
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🧭 Quick Facts

Authority N/A
Country Bermuda
State / UT N/A
Tender Type Procurement News
Currency N/A
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