Reinsurance News

Argo sets record date of January 8th for shareholder vote eligibility

10th December 2019 - Author: Luke Gallin

Argo Group International Holdings, Ltd. has set a record date of January 8th, 2020 for the determination of company shareholders who are entitled to execute, withhold or revoke consents in connection with the Voce Consent Solicitation.

argo globalThe Board of Directors of Argo has responded to Voce’s letter requesting that the re/insurer sets a record date for consent solicitation after Voce launched a process to call a Special Meeting of Argo Shareholders.

Previously, Voce described the specialty re/insurer’s board as having been “asleep at the switch for decades”, urging for immediate changes at the company following the departure of its CEO, Mark Watson.

His departure followed news that the re/insurer had been subpoenaed by The US Securities and Exchange Commission over compensation practices for its executives. Prior to this, Argo had been locked in an ongoing, messy back-and-forth with Voce over issues including executive compensation practices, and the independence of its board of directors.

Now, Argo’s Board has set January 8th, 2020 as the record date for the determination of company shareholders, which is the earliest possible date in compliance with Rule 14a-13 under the Securities Exchange Act of 1934.

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