Global Indemnity plc Announces Modified Dutch Auction Tender Offer for $61 Million Global Indemnity A Ordinary Shares

Global Indemnity plc

announced today that its Board of Directors approved a self tender offer pursuant to which Global Indemnity plc (the "Company") may repurchase up to $61 million of the Company's A ordinary shares. The tender offer will proceed by way of a "modified Dutch auction," pursuant to which Global Indemnity shareholders may tender all or a portion of their A ordinary shares (1) at a price of not less than $19.25 and not more than $22.00, in increments of $0.25 per share or (2) without specifying a purchase price, in which case their A ordinary shares will be purchased at the purchase price determined in accordance with the terms of the tender offer. When the tender offer expires, the Company will select the lowest price within the range of prices specified above (the "purchase price") enabling the Company to purchase up to $61 million of its A ordinary shares. All A ordinary shares purchased by the Company will be purchased at the same price.