Mapfre Middlesea plc - Approval for Change in Shareholding

On 20 June, Middlesea Insurance plc announced that further to the Company Announcement issued on 29 April 2011, the Malta Financial Services Authority (MFSA) has granted approval for Mapfre Internacional to acquire Munich Re’s 19.9% shareholding in Middlesea Insurance. Following this transaction, Mapfre’s equity stake will rise to 50.98%. However the announcement again failed to provide the price at which such a transaction will take place.

In terms of the Listing Rules, Mapfre will proceed to issue a mandatory offer to the remaining shareholders following the conclusion of the transaction with Munich Re.