Business Context and Reporting Period
This Form 8-K Current Report is filed by Greenlight Capital Re, Ltd., a Cayman Islands corporation, for the reporting period ending May 1, 2008. The filing primarily addresses corporate governance changes, specifically the departure of a director and the postponement of the company's annual general meeting.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate events and does not contain financial performance data.
Material Changes
- Director Resignation: Jerome L. Simon resigned from the Board of Directors effective May 1, 2008, citing personal and business commitments. He had previously announced he would not stand for re-election.
- Board Expansion and Appointments: The Board increased the number of directors from six to seven. To fill vacancies, the Board appointed Ian Isaacs and Bryan Murphy to serve until the 2008 annual general meeting.
- Meeting Postponement: The 2008 annual general meeting, originally scheduled for May 2, 2008, was postponed to July 10, 2008. The delay was caused by the transfer agent's failure to deliver the proxy statement to a substantial number of shareholders.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, management commentary on future outlook, or specific risk factors beyond the operational issue regarding the proxy statement delivery. The primary contingency noted is the administrative delay in shareholder communication, which necessitated the rescheduling of the annual meeting.
Key Facts for Investor Verification
- Verify the composition of the Board of Directors following the appointment of Ian Isaacs and Bryan Murphy.
- Confirm the status of the proxy statement distribution and the logistics for the rescheduled annual meeting on July 10, 2008.
- Review the resignation letter of Jerome L. Simon (Exhibit 17.1) for any additional context regarding his departure.