Hanover Investor Meetings to Proceed

8 December 2008

Hanover Investor Meetings to Proceed

Hanover has confirmed that the last-minute attempt to disrupt tomorrow’s meetings of investors to consider the group’s Debt Restructure Proposals has failed.

An investor (whom Hanover understands from court documentation was asked to be a representative plaintiff by an investor lobby group) sought a High Court injunction to stop the meetings, scheduled for tomorrow (Tuesday) morning. The application was dismissed by Heath J. in the High Court today. The Chief Executive of Hanover, Peter Fredricson, welcomed the result.

“This has been an unwanted distraction, but at least the outcome is right for our investors,” Mr Fredricson said. ”They can now attend the meetings and exercise their right to vote in the same way as many others have already done through proxies.

“If the investor roadshows, held up and down the country, are anything to go by we will have very well-attended meetings.”

Mr Fredricson said that Hanover hoped to be in a position to announce the outcome of the extraordinary resolutions early tomorrow afternoon.

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