Alliance Re bid is fair

Alliance International Reinsurance Public Company Ltd (ALL.CY) announced that the independent expert evaluated the Public Offer of Flagstone for the acquisition of up to 100% of the issued share capital of ALL and ended up with the conclusion that the calculation basis (recent stock market value) for the determination of the proposed consideration of EUR0.48 per share is fair and suitable. In addition, the independent opinion stresses the importance of correctly evaluating whether the resulting discount from the Company’s (ALL) NAV is fair and reasonable on the basis of the current market conditions.