Catlin entities announce agreement to invest in Input Capital Corp.

LONDON AND ZURICH, Sept. 18, 2013 /CNW/ - On September 16, 2013, Catlin Underwriting Agencies Limited for and on behalf of Syndicate 2003 ("CUAL") and Catlin Re Switzerland Ltd. ("CRCH") entered into an agreement with Input Capital Corporation ("Input"), pursuant to which CUAL agreed to acquire 7,913,636 Class A common voting shares of Input and CRCH agreed to acquire 2,967,614 Class A common voting shares of Input on a private placement basis at a price of C$1.60 per Class A common voting share (the "Private Placement"). CUAL and CRCH are wholly-owned subsidiaries of Catlin Group Limited (LON:CGL).

The Private Placement is conditional upon the concurrent closing of a public offering by Input of 7,968,750 Class A common voting shares (the "Public Offering"). The Class A common voting shares to be issued to CUAL and CRCH pursuant to the Private Placement represent approximately 14.54% and 5.45% (19.99% in aggregate) of the issued and outstanding Class A common voting shares of Input after giving effect to the Private Placement and to the Public Offering. As part of the Private Placement, Input agreed to issue additional Class A common voting shares to CUAL and CRCH at the same price if the size of the Public Offering is increased or if the over-allotment option under the Public Offering is exercised so that CUAL and CRCH may maintain an equity stake of up to 19.99% of the issued and outstanding Class A common voting shares of Input in such circumstances.

On September 17, 2013, Input announced that it amended the terms of the Public Offering to increase the size of the Public Offering by 3,675,305 Class A common voting shares. CUAL and CRCH have exercised their right under the Private Placement to acquire from Input an additional 667,915 and 250,468 Class A common voting shares, respectively, such that CUAL and CRCH will hold 8,581,551 and 3,218,082 Class A common voting shares of Input after giving effect to the increased Private Placement. Such shares will represent approximately 14.54% and 5.45% (19.99% in aggregate) of the issued and outstanding Class A common voting shares of Input after giving effect to the increased Private Placement and Public Offering as so increased. CUAL and CRCH may purchase additional Class A common voting shares of Input under the Private Placement if the over-allotment option under the Public Offering is exercised by the underwriters in order to maintain a 19.99% equity stake.

CUAL and CRCH are purchasing Class A common voting shares of Input for investment purposes and may increase or decrease their investment in Input through market transactions, private agreements, treasury issuances, exercise of options, warrants or other convertible securities or otherwise at any time subject to applicable contractual restrictions and depending on market conditions and any other relevant factors from time to time.

CUAL's address is 20 Gracechurch Street, London, EC3V 0BG, United Kingdom.

CRCH's address is Feldeggstrasse 4, Zurich, Switzerland, CH-8008.

SOURCE Catlin Underwriting Agencies Limited




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