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Notice of Scheme Meetings

NOTICE OF THE SCHEME MEETINGS

IN THE SUPREME COURT OF GIBRALTAR IN THE MATTER OF ELITE INSURANCE COMPANY LIMITED (IN ADMINISTRATION) (“ELITE”) AND IN THE MATTER OF PART VIII OF THE GIBRALTAR COMPANIES ACT 2014

NOTICE IS HEREBY GIVEN that, by Order dated 13 March 2026, the Supreme Court of Gibraltar ordered that meetings of the Scheme Creditors of Elite Insurance Company Limited (in Administration) (“Elite” or the "Company") be convened for the purpose of considering and, if thought fit, approving a scheme of arrangement pursuant to Part VIII of the Gibraltar Companies Act 2014 (the "Scheme").

The Scheme Creditors (being creditors whose legal rights would be affected by the Scheme) comprise (i) FSCS Protected Creditors and (ii) Other Direct Insurance Creditors, each as defined in the Scheme

Document.

The Court has ordered that two Scheme Meetings will take place via video conference as follows:

  • FSCS Protected Creditors’ Meeting: 7 May 2026 at, or as soon as reasonably practicable after, 10:00am (CEST)
  • Other Direct Insurance Creditors’ Meeting: 7 May 2026 at, or as soon as reasonably practicable after, 10:15am (CEST)

All Scheme Creditors are entitled to vote on the Scheme. If the Scheme becomes effective, it will be binding on all Scheme Creditors, including those who vote against it and those who do not vote.

The deadline for voting via the Creditor Portal is 5pm (CEST) on 6 May 2026. If you would prefer to vote by using a hard copy Voting Form, please either download this from www.pwc.co.uk/elite-insurance (the “Website”) or request a Voting Form using the contact details below.

Scheme Creditors are requested to return their completed and signed hard copy Voting Forms to Elite by 5pm (CEST) on 1 May 2026. Scheme Creditors who fail to submit a valid Voting Form (either online via the Creditor Portal or by using a hard copy Voting Form) by the relevant deadline may only be able to vote at the relevant Scheme Meeting.

Further information on how to register and vote is available on the Website. Alternatively, you may contact us using the details above. Copies of the Scheme Document, Explanatory Statement and other related documents are available on the Website.

By Order of the Supreme Court, Edgar Lavarello as Joint Administrator of the Company, or if for any reason he is unable to act, such other person as the Company selects, has been appointed Chair of the Scheme Meetings and will report the results of those meetings to the Supreme Court.

If approved by the requisite statutory majorities in each class and sanctioned by the Court, the Scheme will bind all Scheme Creditors, including those who do not vote or who vote against it.

Edgar Lavarello and Dan Schwarzmann

Joint Administrators of Elite Insurance Company Limited (in Administration)

Acting as agents of Elite and without personal liability

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