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LONDON - Third Point Investors Limited (TPIL) announced Thursday that shareholders approved the acquisition of Malibu Life Reinsurance SPC at an extraordinary general meeting held earlier in the day.
The company reported that all resolutions related to the acquisition and associated matters passed successfully through a poll vote. The ordinary resolutions received approximately 67-68% support, while special resolutions garnered stronger backing with 83-85% of votes cast in favor.
The approval marks a significant transition for TPIL as it moves to become a reinsurer. Board Chairman Rupert Dorey described the combination with Malibu as "a unique opportunity to bring a high-quality reinsurance platform to the London market that has the potential to deliver superior value for investors."
Following the shareholder approval, board members Claire Whittet and Huw Evans have retired from their positions effective immediately, with their reappointment resolutions at the annual general meeting withdrawn.
The company acknowledged that a portion of shareholders did not support the acquisition and stated its intention to continue engagement with investors as it works toward completing the transaction.
TPIL expects to provide further updates after satisfying conditions to the acquisition and determining the calculation date, according to the press release statement.
The company first announced the proposed acquisition on July 25, 2025, when it published a circular with details of the transaction and called for the extraordinary general meeting that has now approved the deal.
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