Till Capital Announces Auditor Change
23 Décembre 2015 - 11:00PM
Till Capital Ltd. (Nasdaq:TIL) (TSX.V:TIL) (the
“
Company”), a Bermuda domiciled company announces
that it has changed its auditor from KPMG Audit Limited (the
“Former Auditor”) to Grant Thornton LLP (the “Successor
Auditor”). Grant Thornton LLP was previously the auditor for
Omega Insurance Holdings Inc. which the Company acquired in May
2015.
The Former Auditor submitted its resignation to the
Company effective as of December 22, 2015 (the “Effective Date”)
and the Board of Directors of the Company appointed the Successor
Auditor to fill the resulting vacancy as of the Effective Date,
until the close of the next annual general meeting of the
Company.
There were no reservations in the Former Auditor’s
reports on any of the Company’s financial statements relating to
the period during which the Former Auditor was the Company’s
auditor. There were no reportable events between the Company and
the Former Auditor.
The Company’s Audit Committee and Board of
Directors have approved the resignation of the Former Auditor.
Pursuant to National Instrument 51-102 - Continuous Disclosure
Obligations, the notice of change of auditor, together with the
letter from the Former Auditor and the letter from the Successor
Auditor, have been reviewed by the Company’s Audit Committee and
Board of Directors and are available on SEDAR.
Reported by:
John T. Rickard Director
(208) 635-5415
Till Capital Ltd.
Till Capital Ltd. is a Bermuda-domiciled company
with two wholly-owned subsidiaries, Omega Insurance Holdings Inc.
and Resource Re Ltd. Omega Insurance Holdings Inc. owns Omega
General Insurance Company, a Canadian insurance company offering
innovative and customized insurance industry solutions, including
fronting and run-off services for insurers/reinsurers, within the
Canadian marketplace. Omega Insurance Holdings Inc. also
operates Focus Group Inc., a consulting and project management
company servicing the local and international needs of its Property
Casualty Insurance clients. Resource Re Ltd. is a Bermuda-domiciled
reinsurance company regulated by the Bermuda Monetary Authority
with a Class 3A insurance license directed to underwrite
reinsurance policies within a long term investment strategy.
Through its regulated subsidiaries, the Company has been structured
to produce underwriting profits as well as above average returns on
assets under management.
Cautionary NoteAt this time, the Company has no
current plans to provide earnings guidance due to the volatility of
investment returns.
The Till Capital shares are restricted voting
shares, whereby no single shareholder of Till Capital is able to
exercise voting rights for more than 9.9% of the voting rights of
the total issued and outstanding Till Capital shares (the
“9.9% Restriction”). However, if any one
shareholder of Till Capital beneficially owns, or exercises control
or direction over, more than 50% of the issued and outstanding Till
Capital shares, the 9.9% Restriction will cease to apply to the
Till Capital shares.
This news release shall not constitute an offer to
sell or a solicitation of an offer to buy any securities of Till
Capital or any other securities, and shall not constitute an offer,
solicitation or sale in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful. Trading in the
securities of Till Capital should be considered speculative.
Neither the TSX Venture Exchange nor its Regulatory
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) nor the Bermuda Monetary Authority accepts
responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward
Looking InformationExcept for statements of historical
fact, this news release contains certain “forward-looking
information” within the meaning of applicable securities laws.
These forward-looking statements are intended to qualify for the
safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995, and generally can be identified by
phrases such as “plan”, “except”, “project”, “intend”, “believe”,
“anticipate”, “estimate”, “will”, “could” and other similar words,
or statements that certain events or conditions “may” occur.
Such forward-looking statements are subject to risks
and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
statements. These and all subsequent written and oral
forward-looking information are based on estimates and opinions of
management on the dates they are made and are expressly qualified
in their entirety by this notice. Except as required by law, Till
Capital assumes no obligation to update forward-looking information
should circumstances or management’s estimates or opinions
change.
For additional information:
Till Capital Ltd.
Monique Hayes
(208) 699-6097
info@tillcap.com
www.tillcap.com
Till Capital (TSXV:TIL)
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