Omega shareholders agree to board restructure

Six new non-executive directors on board, five go at insurer.

Omega has confirmed all resolutions set out in the circular dated February 18 relating to the appointment of new directors were passed by shareholders today.

The decision was made at a special general meeting conducted by the insurer.

As a result, John Coldman, James Bryce, Robin Spencer-Arscott, Jonathan Betts, David Cooper and Ernest Morrison will be appointed as non-executive directors of the company with immediate effect.

Walter Fiederowicz, Christopher Clarke, Clifford Palmer, Coleman Ross and Nicholas Warren have stepped down as non-executive directors, effective immediately.

A statement to the London Stock Exchange added: “As stated in the February 18 Circular, the Delaware Department of Insurance called a public hearing for March 10 to consider the disclaimer of control which the Delaware Department of Insurance originally granted to Invesco Asset Management Limited in relation to Omega US Insurance, Inc. The decision of the Delaware Department of Insurance is not yet available and a further announcement will be made once the decision is available."