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Company Announcement issued on 7 April 2014

MSI/CF/MSE00414

7 April 2014

The following is a Company Announcement issued by Middlesea Insurance p.l.c., pursuant to the Listing Rules of the Malta Financial Services Authority.

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Middlesea Insurance p.l.c., will be convening its 33rd Annual General Meeting for Tuesday 29 April 2014 at 10:00 a.m. at the Grand Ballroom, Radisson Blue Resort St. George’s Bay in St. Julians, Malta. The following ordinary resolutions are being presented for the consideration of shareholders:-

Ordinary Resolutions

  1. to consider and approve the Accounts for the year ended 31 December 2013 and the reports of the Directors and Auditors thereon;
  2. to declare a final gross dividend of €0.045 per share as recommended by the Board of Directors;
  3. to appoint Ernst & Young as Auditors and to authorise the Directors to fix their remuneration;
  4. to elect Directors in accordance with Article 97(5) of the Company’s Articles of Association (N.B. The number of nominations for directors received by the Company matches the number of vacancies and consequently the nominees, namely Gaston Debono Grech and Paul Testaferrata Moroni Viani will be automatically elected as directors and there is no need for an election);
  5. to approve the maximum annual aggregate emoluments of Directors at €250,000 in the line with the previous year.

Following our Company Announcement dated 13 March 2014 we would like to state that Shareholders on the Company’s register at the Central Securities Depositary of the Malta Stock Exchange as at close of business on the 28 March 2014 (the Record Date), will receive notice of the Annual General Meeting together with a copy of the Annual Report and Financial Statements. All the respective documentation for the Annual General Meeting together with the Audited Financial Statements for the year ended 31 December 2013, are available for viewing at the registered office of the Company at Middle Sea House, Floriana, Malta and on the Company’s website at www.middlesea.com

The gross dividend in respect of year ended 31 December 2013 of €0.045 per share amounting to a total dividend of €4,140,222 (2012: €2,300,000) is to be proposed by the directors at the forthcoming annual general meeting.  This is equivalent to a net dividend of €0.03826 per share amounting to a total net dividend of €3,520,000 (2012: €1,745,000). As stipulated on the first page of our Company Announcement dated 13 March 2014, the final dividend, if approved at the AGM, will be paid on the 28 May 2014 to the Shareholders on the Company’s share register at the Central Securities Depository of the Malta Stock Exchange at the close of business as at the 6 May 2014.

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By Order of the Board

Carlo Farrugia

Company Secretary

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