Attached files
Exhibit 99.1
Company Contact:
Oxbridge
Re Holdings Limited
Jay
Madhu, CEO
345-749-7570
jmadhu@oxbridgere.com
Media contact:
Suzie
Boland
RFB
Communications Group
813-259-0345
sboland@rfbcommunications.com
Oxbridge Re Holdings Limited Announces Term Extension of
Warrants
GRAND
CAYMAN, Cayman Islands / ACCESSWIRE / Nov. 19, 2018 / Oxbridge
Re Holdings Limited (OXBR),
a provider of reinsurance solutions primarily to property and
casualty insurers in the Gulf Coast region of the United States,
announced today an extension to the term for exercise of its
publicly traded warrants (NASDAQ: OXBRW).
The
warrants were issued as part of the units offered and sold in
Oxbridge Re’s April 2014 initial public offering and are
exercisable for its ordinary shares at an exercise price of $7.50
per share. The warrants would have expired at 5:00 p.m.
Philadelphia time on March 26, 2019. The expiration date has now
been extended to 5:00 p.m. Philadelphia time on the earlier to
occur of (a) March 26, 2024 and (b) the date fixed for cancellation
by the Company following any 20-trading day period in which the
Company’s ordinary shares traded above $9.38 per share for at
least ten trading days.
This
press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful, prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Oxbridge Re Holdings Limited
Oxbridge Re Holdings Limited (www.oxbridgere.com)
is a Cayman Islands exempted company that was organized in April
2013 to provide reinsurance business solutions primarily to
property and casualty insurers in the Gulf Coast region of the
United States. Through Oxbridge Re's licensed reinsurance
subsidiaries, Oxbridge Reinsurance Limited and Oxbridge RE NS, it
writes fully collateralized policies to cover property losses from
specified catastrophes. Oxbridge Re specializes in underwriting
medium frequency, high severity risks, where it believes sufficient
data exists to analyze effectively the risk/return profile of
reinsurance contracts. The company's ordinary shares and warrants
trade on the NASDAQ Capital Market under the symbols
"OXBR"
and "OXBRW,"
respectively. The company's ordinary shares are included in the
Russell Microcap Index.
Forward-Looking Statements
This
press release may contain forward-looking statements made pursuant
to the Private Securities Litigation Reform Act of 1995. Words such
as "anticipate," "estimate," "expect," "intend," "plan," "project"
and other similar words and expressions are intended to signify
forward-looking statements. Forward-looking statements are not
guarantees of future results and conditions but rather are subject
to various risks and uncertainties. Some of these risks and
uncertainties are identified in the Company's filings with the SEC.
The occurrence of any of these risks and uncertainties could have a
material adverse effect on the Company's business, financial
condition and results of operations. Any forward-looking statements
made in this press release speak only as of the date of this press
release and, except as required by law, the Company undertakes no
obligation to update any forward-looking statement contained in
this press release, even if the Company's expectations or any
related events, conditions or circumstances change.