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ERS Syndicate Management Limited

Managing Agent Name:  ERS Syndicate Management Limited

Subject: Mandatory Offer

Syndicate Affected: 218

For the 2020 year of account, direct corporate ERS Corporate Member Limited will have a premium limit on managed Syndicate 218 of greater than 75%. It is therefore required, under Paragraph 2 of the Mandatory Offer Byelaw, to make a mandatory offer to the remaining members of the Syndicate.

The requirement to make the mandatory offer is postponed under Paragraph 5 of the Mandatory Offer Byelaw as, during relevant period and since the end of the relevant period, no consideration has been paid by ERS Corporate Member Limited (or any associate) for the surrender of the whole or part of a member’s prospective participation in relation to Syndicate 218.

This announcement is being made in accordance with Paragraph 5 (3) of the Mandatory Offer Byelaw.

Date issued: 21 November 2019

Contact Information

Agency contact name: Peter Merrett, Compliance Officer

Agency contact no: + 44 (0)203 824 5589

For auction office use only: D2019009

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